Protracted Shadbolt talks end in a tidy acquisition for Clydes
It took some time to get there, and it didn't pan out as initially expected, but the conclusion to the merger talks between Clyde & Co and Shadbolt appears to be a good result for the London-based insurance firm. Talks between the two started over a year ago after the construction boutique completed a strategic review of its business. The retirement of high-profile name partner Dick Shadbolt in 2008 left the firm without a clear-cut strategy and struggling to maintain its financial performance, according to a variety of partners familiar with the firm. With 18 partners spread across its offices in London, Guildford, Reigate and Paris, Shadbolt was struggling to adopt its focus of handling corporate and projects work for UK subcontractors to an increasingly international construction market.
Clydes’ ambitions in construction receive a boost with hire of well-regarded team
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