Avoiding the rough
A specialist wholesaler in the sporting goods space with an enviable global footprint. The founder of the business became convinced that the Company’s future is best secured by passing the baton via Employee Ownership. However, despite being already ‘stricken in years’ the founder is keen to remain involved in the business for the foreseeable future, and perhaps beyond!
Age seldom comes alone; in addition to being in his mid 60s, a too successful and sometimes stressful career has left the founder vendor medically impaired yet the Company will rely on his contribution and contacts for many years to come.
Through FAB’s connections with specialist Underwriters and Re-assurers the vendor was able to access and obtain Deferred Consideration Insurance to protect his exit flight-path. He and his EOT colleagues and his family are safe in the knowledge that all parties are protected in the event of his death.
Sums Assured: £11 million
Lives Assured: 1
EOT/DCI Term: 10 years