Taylor Defence Services (TDS) sold to Lifco

Swedish listed group Lifco AB has acquired a majority of the shares in TDS (E&W) Limited and related companies (together hereafter referred to as ‘TDS’), which specialise in the provision of professional liability insurance to dentists and dental care professionals in the UK. The shareholders of TDS were advised by Initium® Corporate Finance throughout the transaction, which completed in October 2024.

Based in Glasgow, TDS introduces policies of insurance for general dental practitioners, dental care professionals, and corporate entities. Its contracted services ensure dental professionals are appropriately indemnified whenever their clinical performance is called into question. TDS’s specialist areas of expertise include dental indemnity insurance (incorporating loss-occurring cover and contingent past cover); dental complaints management; vicarious liability; and non-delegable duty of care.

“The Initium team assisted us to prepare for the sale process, tirelessly working with us to highlight the niche aspects of the business. We feel we gained a true partner during the process. More importantly, we feel we gained a friendship…” – Neil Taylor, founder, TDS

Founded in 2012 by Neil Taylor – who has years of experience within the specialist field of dental negligence as both a lawyer and dentist himself – the business is a notable market-leading specialist in its area of operation, and employs 30 staff including qualified dentists, trained negotiators and defenders.

The acquirer, Lifco Group, is listed on the Stockholm Stock Exchange (STO: LIFCO-B), and specialises in three business areas: Dental; Demolition & Tools; and Systems Solutions. With a focus on profitability and a strongly decentralised organisation, Lifco’s business concept is to acquire and develop market-leading niche businesses with the potential to deliver sustainable earnings growth and robust cash flows over the long term.

At the end of 2023, the Lifco Group consisted of 233 operating companies in 31 countries, reporting an EBITDA margin of 23.2 per cent on net sales of SEK 24.4 bn (GBP£1.78bn).

Transaction perspectives

Commenting on the transaction, Neil Taylor, founder of TDS said: “Having built a business from scratch, the time arose to release equity, by way of share sales, to give us financial freedom whilst retaining a position within the company to enable us to drive the business forward to the next level with a listed acquirer.

“We have no doubt that Initium’s experience and guidance helped secure us a good deal structure. For any business owners who are considering business sale options, we would certainly recommend Initium…” – Neil Taylor, founder, TDS

“Having the correct team overseeing the transaction was crucial. The team at Initium have been exceptionally professional, and their expert advice and technical support was greatly received. The eye for detail that  Stuart Aldred and the wider team demonstrated was invaluable.

“The Initium team assisted us to prepare for the sale process, tirelessly working with us to highlight the niche aspects of the business. We feel we gained a true partner during the process, who was always available on the phone to discuss the process with great insight. More importantly, we feel we gained a friendship with the Initium team, which we hope continues in the future.

“We have no doubt that their experience and guidance helped secure us a good deal structure. For any business owners who are considering business sale options, we would certainly recommend Initium. They have exceptional ability, experience, technical skills, knowledge, insight, and tactical awareness to obtain you the outcome you desire.”

Alongside corporate finance advice from Initium, TDS received legal advice from Duncan Cathie and team at Brodies LLP.