CBL broker EISL stages management buyout

acquisition-sold

Exclusive: The administrators of CBL have sold UK-based European Insurance Services Ltd, in a private equity-backed management buyout.

The Tunbridge Wells-based construction insurance specialist has been bought by Phenix Holdings, for an undisclosed sum.

Post understands that the sale will take the form of a private equity-backed MBO, with current CEO Pierre Galeon set to remain in his position.

The CBL-owned broker specialist saw revenues of €8.5m in 2016, 19% down on the previous year. Operating profit more than halved from 2015, from €3.1m to €1.5m. Data for 2017 was not immediately available.

The sale has been agreed by CBL subsidiary Intercede 2408, which owns EISL.

  • LinkedIn  
  • Save this article
  • Print this page  

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: