Cobbetts’ Manchester-based corporate practice has advised the management team of leading outsourced claims management business, Lanes Assistance Services (“LAS”), in its private equity backed MBO from existing shareholder, Lanes Group plc.

The deal was backed by a £12.3 million investment by Gresham Private Equity.

LAS, whose clients include a number of top UK insurers, provides a market-leading outsourced claims management service to the insurance industry from its offices in Manchester and Birmingham. Gresham’s investment provides significant capital to enhance the business’ operational infrastructure, expand its service offering and strengthen the senior management team.

Head of corporate, Sean Fitzgerald, led the deal team for Cobbetts, assisted by associate, Victoria Zivkovic, and solicitor, Laura Lovell.

Sean Fitzgerald said: “Gresham’s investment in LAS provides a platform for strong and sustainable growth, ensuring that the business’ high standards of customer service are maintained as it expands. LAS holds an increasingly strong position in the outsourced claims management market thanks to its industry leading technology and focus on customer care.”