Slaughter and May advised Right Choice Insurance Brokers on private equity sale

Slaughter and May advised Right Choice Insurance Brokers Limited (RCIB) on the sale of a minority stake in RCIB to Lloyds Development Capital, as well as the related leveraged financing and security package. RCIB is an insurance broker with a focus on the non-standard motor insurance sector. Lloyds Development Capital is a subsidiary of the Lloyds Banking Group and a private equity house with particular expertise operating in the mid-market. The transaction values RCIB at approximately £100 million on a debt-free, cash-free basis.