Top 100 broker Hood Group completes PE-backed MBO
Southend-based Hood Group has completed a £10.7m management buyout with the support of Connection Capital, the private equity and alternative investment platform.
The existing management team of CEO Simon Hood, commercial director Bruce Reid, chief operating officer James Wallis, travel director Mark Izzard, and non-executive chair Andy Homer, all remain with the business along with the associate directors
Finance provided by the transaction includes capital to support investment in its direct and B2B insurance division, as well as funds to pursue new and existing verticals, the Hood Group, a top 100 broker, added.
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