Hines Associates (“Hines”) is delighted to announce its role as financial adviser to Direct Life on the sale of a 60% stake in the business to LSL.
Established in 1990, Direct Life is one of the largest wholesale providers of protection products and services in the UK. It provides outsourced administration services for many of the UK’s leading wealth management, mortgage and protection advisers, as well as national consumer facing aggregators, helping them protect more clients and grow their business. It is best recognised for its intermediary-facing platform, LifeQuote.
With the support from LSL, Direct Life will deliver key enhancements to the protection advice market, improve its technological and operational capabilities in this area and provide further growth opportunities for its intermediary partners.
Hines’ role included advising the owners of Direct Life in relation to valuation issues, assisting in the development and presentation of the business case and providing advice on sale strategy and tactics.
We were very happy to work again with Direct Life, having advised Skipton Building Society in 2008 on the sale of Direct Life to Cardif Pinnacle.