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Footman to Be Sold for Pounds 80m

Jan 28, 2007

Specialist car insurer Footman James last night appeared on the verge of being sold to industry giant Aon for about pounds 80 million.

The firm, based at Cra-dley Heath, was put up for sale in August by its private equity owner Alchemy Partners.

According to a weekend report, managing director Paul Matthews confirmed that a deal was imminent, but would not comment on possible buyers.

The sales process has been handled by accountants Deloitte.

Footman James sponsors the Classic Motor Show at the NEC.

It claims a customer base of 140,000 policy-holders, a premium income of more than pounds 40 million and a call centre with 180 staff.

(c) 2007 Birmingham Post; Birmingham (UK). Provided by ProQuest Information and Learning. All rights Reserved.

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