MacRoberts advises on the sale of boiler insurance provider to new energy outfit

MacRoberts has advised the shareholders of CLCB Holdings Limited, which includes CORGI HomePlan, in the sale of their business to the OVO Group.

CORGI HomePlan provides boiler insurance and home emergency servicing to UK households and operates through a network of approximately 5,000 engineers. OVO, headquartered in Bristol, operates UK wide and is a challenger to the big six energy suppliers.

An 11-strong team at MacRoberts, led by partners David Gourlay and Alan Kelly, negotiated and advised on the deal documentation, carried out corporate re-structuring in advance of the deal and advised on various contractual, intellectual property and regulatory matters in connection with the acquisition.

Mr Gourlay said: “We were delighted to have worked closely with the shareholders over several years to help develop the CORGI HomePlan business. The transaction also demonstrates the health of the M&A market in Scotland. The MacRoberts team worked incredibly hard for our clients who were delighted with the result.”

CORGI HomePlan CEO, Peter Southcott said: “The MacRoberts team have provided invaluable assistance to us over many years. Throughout the entire transaction MacRoberts skilfully negotiated and advised us. What could have been a very stressful time for us was made painless with their expert advice and reassurance.”