WESTERN UNITED FINANCIAL SERVICES – SALE OF BUSINESS TO BMS GROUP
MPH acted recently for the owners of Western United Financial Services (WUFS), a leading Western Australia-based insurance broker, in connection with sale of the business to BMS Group, a multi-billion dollar global provider of reinsurance, direct insurance, and capital advisory services. MPH’s role in the transaction involved the preparation, review and implementation of sale transaction documents and interaction with legal, financial and taxation advisers for both the vendors and BMS, as well as providing advice in relation to ongoing service arrangements for key WUFS executives.
WUFS was founded in 2002 and offers tailored insurance broking, risk management and claims handling services. The company advises on a full range of general insurance products as well as offering risk management solutions including the design, development training and implementation of workers’ compensation, injury management and workplace health and safety systems.
The transaction with BMS Group will result in BMS’ existing Australian presence in the Australian market being strengthened through the addition of WUFS’ capabilities, with WUFS Managing Director (and former owner) Brett Waterman to continue not only at the helm of WUFS, but to be responsible for leading the overall BMS business in Western Australia.
Mark Burchnall (Director) and Taila Childs (Lawyer) led the transaction, assisted by Laura Zollo.