We advised the shareholders of pet insurance specialist broker Brooks Braithwaite on the sale of 100% of the company’s shares to Bought by Many, the multi-award winning UK start-up which uses social media to disrupt the insurance industry.
This was a seminal transaction involving a combination between pioneering social media-inspired disruptor of the insurance industry Bought By Many and Brooks Braithwaite’s Exotic Direct business, the UK’s leading provider of pet insurance for birds, mammals and reptiles as well as Petplan Sanctuary, Allianz’s scheme for pet businesses such as Dog walkers, Pet Sitters and Animal Boarding Establishments, which is operated and administered by Brooks Braithwaite.
Bought By Many will use its technology platform to create an industry-leading mobile-enabled online quote and buy process for pet insurance. Exotic Direct and Petplan Sanctuary products will then be marketed by Bought By Many through social network platforms including Facebook, Twitter, and Instagram. Meanwhile, Bought By Many will use its proprietary database of insurance searches to identify areas of unmet product demand which Brooks Braithwaite will develop.
PGD Strategy marketed the opportunity, identified the purchaser, advised on all aspects of the transaction and managed the process from initial contact and commercial negotiations to completion.