Sovereign Capital, the UK private equity ‘Buy & Build’ specialist, were investing in Kindertons, a highly successful outsourced accident management services business. The business required a CFO to support the significant growth achieved. A pre-deal CFO brief was provided to, and delivered by, Axon Moore.
Kindertons is a nationwide specialist provider of outsourced accident management services for motor insurers and insurance brokers together with claims management services for drivers who have been involved in a road traffic accident.
Its services include receiving ‘first notification of loss’ calls on behalf of its work partners and the provision of replacement vehicles and full claims management services thereafter to non-fault drivers involved in road traffic accidents. Employing 450 people, Kindertons is headquartered in Crewe and operates 11 depots around the UK, with a diverse fleet in excess of 2,000 vehicles.
The deal was successfully completed in September 2013. Sovereign had appointed non-executive Chairman Jon Walden (formerly Chairman of Epyx, CEO of Lex and main board director of the RAC). They were keen to bring in a CFO with prior private equity and operational experience to complement a highly experienced incumbent management team led by Shaun Ellison (Managing Director). Nigel Ward joined shortly after as CFO.
The business completed its first acquisition a month after the deal and continues to perform very strongly.
Rob King, Investment Director, Sovereign Capital: “We issued a very demanding brief to Axon Moore, who from the outset showed a real understanding of our requirements. Their search resulted in the identification of a range of very high calibre candidates and their input and insights throughout the process were particularly helpful. Nigel has been an excellent fit with the business and is now a key part of the management team.”