Private equity (PE)
PE investment and consolidation to continue in broking following flurry of deals
Consolidation and private equity investment are far from reaching their zenith in the broking sector, according to market insiders, who have tipped brokers Be Wiser, Jelf and Autonet Insurance Services as attractive prospects for buyers.
Blanc to focus on 'straightforward' growth plan at Aston Scott
Aston Scott executive chairman Peter Blanc plans to make the business "the best insurance broker" he can by targeting a combination of acquisitions and organic growth over the next five years.
Peter Blanc becomes exec chair at Aston Scott following MBO
Aston Scott Group has completed a management buyout funded by private equity firm Bowmark Capital.
Brightside pegged as Autonet purchaser
Bristol-based broker Brightside is said to be pursuing Autonet Insurance Services - a previous acquisition target of Arthur J Gallagher.
PE house takes 50% stake in telematics firm
New private equity firm Beech Tree Private Equity has agreed to take a 50% stake in RS Fleet Installations, the West- Midlands based telematics device installation firm.
Carlyle Group buys Nationwide Accident Repair Services for £43.2m
US private equity firm Carlyle Group has agreed a deal to buy AIM-listed Nationwide Accident Repair Services for £43.2m.
Apollo-backed bid for Chaucer motor book stalls as Markerstudy revs up interest
Markerstudy is in pole position to tie-up a deal for Chaucer’s UK motor business after a $300m (£203m) bid backed by private equity house Apollo stalled, Post understands.
Towergate tipped for future sale despite debt-for-equity deal
There is “no question” Towergate will be up for sale once again in the coming years, according to market insiders, who believe the swift appointment of a CEO is paramount following this week’s debt-for-equity deal.
Alsford Page & Gems announces MBO
Lloyd’s insurance and reinsurance broker Alsford Page and Gems is to complete a private equity backed management buyout that will see the staff holding 28% of the total shareholding.
Towergate sale enters final furlong as Cullum and Homer fall behind frontrunners
Peter Cullum and Andy Homer's hopes of reacquiring Towergate look set to be dashed as the broker seeks to bring an end to a lengthy sale process.
Premium Credit snapped up by Cinven for £462m
European private equity firm Cinven is to acquire UK finance provider Premium Credit for £462m.
Stackhouse Poland completes MBO, as Hester exits
Stackhouse Poland Holdings has completed a management buy-out by current equity holders, Jeremy Cary and James Agnew, together with recently appointed CEO Tim Johnson.
Duke Street increases investment in Parabis Group
Private equity investor Duke Street Capital has upped its investment in Parabis Group in a bid to help the personal injury umbrella firm capitalise on opportunities in the legal services sector.
Open GI and Powerplace complete MBO worth upwards of £300m
Open GI and sister company Powerplace have completed a management buyout valued in excess of £300m after tying up a deal with Montagu Private Equity following approval form the Financial Conduct Authority.
Terry one of three directors to boost Quindell shareholding
Quindell chairman Rob Terry has increased his stake in the company to 10.69% after purchasing a further one million shares.
Private equity eying larger EMEA insurance stake
Insurance firms across Europe, the Middle East and Asia are more focused on disposals than acquisitions as they look to shed non-core units and strengthen their market positions elsewhere.
County Insurance secures Cullum-backed MVP investment
Independent broker County Insurance has completed a deal with Peter Cullum’s funding vehicle Minority Venture Partners.
Blog: Five insurance narratives worth following for the rest of the year
So far in 2014 we have seen a number of major developments and loose ends seemingly tied up.
Power Place to accelerate expansion following Montagu investment
Open International chief executive Chris Guillaume has turned his attention to propelling the firm’s Power Place business into the complex commercial and SME arenas after agreeing a “long term” partnership with private equity investors Montagu.
Hg Capital buys Lloyd's software provider Sequel
Private Equity firm Hg Capital has acquired Sequel Business Solutions, a software and services provider to the Lloyd's and London market, in partnership with the Sequel management team.
Ana Cap ties up deal for French broker Assur One
European financial services private equity firm Ana Cap has teamed up with company management to complete the buyout of French digital insurance broker Assur One Group.
Esure IPO highlights UK prominence in private equity domain
The UK has asserted itself as a key market for private equity activity, according to a study by international law firm White & Chase.
BMS sells £30m minority stake to PE investor
BMS Associates has sold a £30m ($50.7m) minority stake to private equity investor Capital Z in a bid to support expansion of both Lloyd's broker BMS and underwriting agency Pioneer.
Broking M&A boom predicted as private equity appetite grows
Report reveals UK dominance of European insurance deals