Co-op acquire the UK’s second largest probate provider

Co-op acquire the UK’s second largest probate provider

Co-op have aquired Simplify Probate, the second largest probate provider in the UK. See https://www.co-operative.coop/media/news-releases/co-op-underlines-ambitions-in-later-life-planning-with-acquisition-of (6 April 2018)

“Co-op underlines ambitions in later life planning with acquisition of Simplify Probate

• “Grows market leading position by acquiring the UK’s second largest probate provider

• “Sets out future ambition to transform later life planning market

• “Enhances customer and member proposition with access to bereavement advice

“The Co-op today announces the acquisition of Simplify Probate, the UK’s second largest provider of probate, as it sets out its stall to transform the UK’s later life planning market.

“This deal cements the Co-op’s position as the leading provider of probate in the UK and underpins its ambition to grow its Later Life business, which currently provides a range of services and products including Wills, probate, lasting power of attorney and funeral plans.

“The transformation will see the Co-op’s members and customers benefit from faster distribution of estate proceeds and improved access to regulated estate planning services. Co-op Legal is accelerating its investment in technology and services to deliver premium regulated services at affordable fixed prices.

“Simplify Probate, which is part of the Simplify Group of companies, has been a specialist provider of probate and estate administration for more than 25 years.

“Simplify Probate also runs an established Bereavement Advice Centre which provides access to practical bereavement advice online and by telephone. The acquisition supports. Co-op’s ambition to deliver bereavement services for customers and members.

“The Simplify Group has a market leading residential property services company, Move With Us, which has a national estate agent network. Co-opLegal will work in a strategic partnership with Move With Us, and its sister businesses DC Law and JS Law, to handle the property and conveyancing requirements as part of the administration of estates.

“Matt Howells, Managing Director of Co-op’s Legal Services and Later Life business, said:

““We’re very excited about the Co-op’s potential to transform later life planning in the UK and the acquisition of Simplify Probate is a key part of that ambition. This agreement will help us increase access to quality, fixed-fee probate services in what is a fragmented market.

““Our focus is on delivering a suite of fully regulated end-to-end services for later life planning, whilst also promoting a better way of doing business through a faster and more transparent way of delivering probate.”

“David Grossman, CEO, Simplify Group added:

““We are proud to have built a business that will now combine with the Co-op to create the undisputed leader in the industry.

““The sale of our probate business to the Co-op allows the Simplify Group to increase our focus and scale in conveyancing and property services. We are thrilled to be entering into a long-term strategic partnership to provide conveyancing and property services to the new enlarged Co-op probate business and look forward to delivering exceptional service to its customers.””