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Brabners Chaffe Street advises on sale of threesixty to standard life PLC
18/03/2010

The Liverpool office of leading North West law firm Brabners Chaffe Street has advised Cheshire-based intermediary support services group threesixty on its outright sale to Standard Life plc.

Established in 2003, threesixty provides compliance, training and consultancy services, as well as technology platforms, to a client base of 575 independent financial advisers across the UK.

Standard Life, one of the UK`s largest financial services providers, previously held a 25 per cent stake in the group, which comprises threesixty Services LLP, threesixty Support LLP and threesixty IFA LLP.

The group anticipates increased demand amongst IFAs for advisory services as changes come into place under the government's retail distribution review (RDR), which will ban IFA commission on the sale of financial products.

Following Standard Life`s investment, lead partners Phil Young and David Ingram will remain with the business.

A four-strong team from Brabners Chaffe Street in Liverpool, led by Partner and Head of Corporate Denise Walker, advised the company`s shareholders on the sale.

The deal follows the firm`s lead role in the £72.3m sale of Nationwide Autocentres to Halfords plc.

Denise Walker, Brabners Chaffe Street, said: "The team at threesixty has built a strong business model over the last seven years, providing quality expertise in a dynamic marketplace. Being part of world class financial services group like Standard Life represents a fantastic outcome and opportunity for its customers and employees."

She added: "We`re seeing a growing appetite amongst UK PLC for quality, valued-adding assets which complement their proposition. Having demonstrated our capability on several PLC sales in the last three months, we`re well positioned to advise owner managers on the process."

The team at Brabners Chaffe Street in Liverpool included Stephen Roseby, William Ngan and employment law specialist Nick Campbell.

Brabners Chaffe Street, which operates across Liverpool, Manchester and Preston, was ranked as one of the region`s top five corporate practices in 2009 having advised on 18 major transactions (Source: Corpfin).

As at 31 December 2009, the audited gross assets of threesixty were £5.2million.


For further information contact Denise Walker at Brabners Chaffe Street on 0151 600 3000

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