ProAktive Risk Group founder Jon Whiteley is stepping down from the daily oversight of the risk management firm and commercial insurance broker following the completion of a £2 million management buyout.
Whiteley retains a significant shareholding in the Yorkshire risk management consultancy, while control will be passed on to the executive team headed by group CEO Ian Laycock and group managing director Andy Morley. On its website, ProAktive lists the former owner as consultant & non-executive director.
Backed by debt funding from Mercia Fund Managers, the buyout was also partially supported by deferred consideration on Whiteley’s part.
“ProAktive’s business model demonstrates its forward thinking approach,” commented Jonathan Craig, investment manager at Mercia Fund Managers. “By working with clients to identify potential business risks and improve training and internal systems, it can often help reduce premiums and claims.
“The business has an exceptionally loyal client base and is well placed to capitalise on the opportunities in the market. This funding allows the founder to hand over day-to-day control to the existing management while preserving the values of the business.”
The Doncaster-based commercial insurance broker and risk management consultancy’s services include HR, health & safety, business continuity planning, and fleet risk management. It employs more than 50 people and also has a Sheffield office.
