Towergate sells Hayward Aviation to JLT for £27m
Consolidator pursues strategy of selling small non-core businesses to ease problems.
JLT Group has agreed to buy Hayward Aviation from Towergate for £27m in cash.
Towergate, which has a debt of around £1bn and cash flow problems, is considering offers for the company and pursuing a strategy of selling small non-core businesses.
Hayward Aviation is a specialist aviation insurance broker that arranges insurance for regional airlines, small commercial fleets of fixed wing aircraft and helicopters, individual jets, light aircraft and helicopters owned by private clients.
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