TLT advises shareholders of Tay River Holdings Ltd on multi-million-pound sale to global insurance brokerage

TLT has advised the shareholders of Tay River Holdings Ltd and its related companies on the sale of Tay River Holdings to US headquartered global insurance brokerage Arthur J. Gallagher’s specialist underwriting subsidiary Pen Underwriting.

The transaction included the sale of Tay River Holdings’ group of marine insurance underwriting businesses: Vessel Protect, Trafalgar Marine Trades, BMM (Ports & Terminals), Freeboard Maritime and Fortify Marine.

The deal was led by TLT’s Manchester-based corporate team, overseen by corporate partners Ian Roberts and Rick Life, with support from corporate associates Sam Jones and Kirsty Wilson. The deal involved cross-sector and cross-service expertise from across the firm with William Ngan and Isabel Evans from tax; and Mike Legge from employment.

Paul Hartley, managing director at Tay River Holdings commented: “Over the course of this transaction TLT have proven their worth time and again. From the clarity of the advice to the high standard of service, we cannot speak highly enough of the team. The depth and range of talent at this firm is truly impressive.”

Rick Life said: “It was a pleasure to support Tay River Holdings shareholders throughout the sale.

“This was a complex transaction involving a number of different subsidiaries of Tay River Holdings, requiring a detailed and organised approach from everyone in the team. We’re delighted to have been able to reach the best conclusion possible.”