Ambant’s Innovatory Approach

Ambant’s innovatory approach enables the first ever acquisition of a legacy IFA network

Ambant breaks new ground, solves problems, gets results…

BACKGROUND
A major life company was looking to dispose of a troubled subsidiary (an IFA Network that had been closed to new business) ahead of its merger with another large life group. Ambant was asked to help on the recommendation of the top City law firm acting for the Vendor.

CHALLENGES
The Vendor wanted the transaction to be completed within a tight four month deadline. The process had to be handled to the satisfaction of the Financial Services Authority (FSA), the Vendor and numerous other stakeholders. This involved extensive and detailed negotiations with the key interested parties, especially the FSA, who were naturally keen that the transaction was appropriately handled and fully respected customers’ interests.

PROCESS
Using its expertise in acquiring distressed businesses, Ambant built an innovative model to handle the first ever purchase of a legacy IFA in a planned, coordinated and transparent way. Ambant has also worked closely with the Vendor and the FSA (now the FCA) to structure the run-off plan and execute it correctly and efficiently.

“This was the first acquisition of a legacy IFA in the market,” says Steven Crabb, Chief Executive Officer, Ambant. “We used our extensive and expert management skills to develop a completely new and effective model to achieve finality for this discontinued retail financial services business.”

RESULTS
Ambant’s intervention was effective and the purchase was a success. It delivered the transaction on time, facilitated a much larger transaction (the Vendor’s merger), it maintained the reputation of both organisations and ensured that customers’ interests would be protected. The wind down plan continues to be managed successfully by Ambant in close cooperation with the FCA.

For further information contact Neil Carnaffan email: neil.carnaffan@ambant.com or call Neil on +44(0) 207 264 0800