An absentee owner of a Chicago based specialty insurance broker
sought a sale for estate planning purposes. The seller
required not only a fair price but also special consideration
for management who had performed well in operating the business
over the years. A specialty investment bank handled the
sale assignment and brought the transaction to HRCo.
HRCo negotiated a flexible arrangement to purchase the broker
for a competitive cash price while including management in the
ownership structure at a level industry buyers were not willing
Maginnis grew substantially internally and through external
investments, under the direction of a highly motivated management
group and with the active support and involvement of HRCo.
The management and HRCo sold the company to another broker in
a complementary business fit.