Private equity (PE)
Insurer mergers & acquisitions: Is 2011 the time to strike?
After a lean period for insurer mergers and acquisitions through the economic downturn, Daniel Dunkley reports that the first rays of sunlight might begin to show in 2011.
Power Place chief executive steps down
Matthew Reed has stepped down as Power Place chief executive — just four days after private equity firm Advent took a 45% stake in its parent company, Towergate earlier this month.
Brit share deal extended for seventh time
The deadline by which Brit shareholders can accept or decline Achilles offer for the company has been extended yet again.
Towergate concludes refinancing deal and cuts debt by £100m
Towergate Partnership has announced the completion of its refinancing and £200m investment from private equity firm Advent International.
Editor's comment: Never mind the setbacks
"There's unlimited supply. And there is no reason why". No, I'm not talking about the overcapacity in the UK motor market, but the opening lines to EMI by the Sex Pistols.
Chaucer confirms bid rumours as Terra Firma enters frame
Chaucer has again become the subject of speculation in the market after it was revealed "a number" of potential buyers have made provisional approaches for the firm.
Towergate cancels foreign travel plans
A high level of interest from bond investors in London and Edinburgh saw Towergate management cancel travel plans to meet potential investors in Europe and the US last week, and conclude its refinancing arrangement on UK soil.
Interview - Marshall King: RFIB plans for the future
Softly spoken Marshall King has a track record worth shouting about. Lynn Rouse finds out about his plans to make sure everybody hears about broker RFIB.
Terra Firma confirms Chaucer interest
Private Equity giant Terra Firma has confirmed a potential bid for Lloyd’s of London insurer Chaucer’s entire issued share capital.
Brit share deal extended again
The deadline by which Brit shareholders can accept or decline Achilles offer for the company has been extended for a sixth time.
Former UKDN employee lied
A former UK Drainage Network employee has been forced to retract claims that the company handed over shares to land a fulfilment contract, after admitting the allegations were false.
Editor's comment: Cullum's Advent calendar
The transfer deadline day, 31 January, saw a host of football clubs scrambling over themselves to secure deals to improve their stock ahead of the final push for safety, promotion, Europe or silverware.
Nationals call for FSA talks as Towergate seals £200m deal
Chief executives from some of the UK's largest brokers have called for a meeting with the Financial Services Authority to discuss concerns over the increasing level of intervention in compliance issues by the regulator.
News analysis - Towergate refinancing: Towergate to kick into full IPO mode
With confirmation of Advent's £200m cash injection, what does Towergate have planned next? Mairi MacDonald explores the options.
Jelf has big plans for personal lines in 2011
Jelf chief executive Alex Alway is targeting "aggressive organic growth" after its 2010 annual results revealed that the firm had reduced its debt and turned a 2009 loss into profit.
Towergate to benefit from "first mover advantage," claims Fitch
Fitch Ratings has affirmed the long-term issuer default rating of Towergate Finance at 'B'. The outlook is stable.
Brit share deal extended for fifth time
Achilles' has extended the deadline by which Brit shareholders can accept or decline the private equity consortium’s offer for the company for a fifth time.
Advent seals £200m investment in Towergate and CCV
Towergate Partnership has entered into a conditional agreement in relation to a £200m investment by global private equity firm Advent International.
Lloyds insurance boss quits after 12 months for Friends role
Lloyds Banking Group's CEO of general insurance Andy Briggs is to leave to become CEO of Friends Provident.
Brit Insurance share deal deadline extended - again
Brit shareholders have more time to decide whether to accept an offer from Achilles after the deadline was extended for a fourth time.
Brit acquisition deadline extended to March
The deadline for acceptance of Achilles’ offer to buy Brit Insurance has been extended for a third time.
Interview - Sarah Lyons: What next for Giles?
Having joined the industry as a school leaver, Sarah Lyons is now group MD of Giles. She explains to Mairi MacDonald why growth, rather than exit plans, remains top of her agenda.
Towergate highlights new bond issue intent with director change
Consolidator Towergate Partnership has moved a step closer to an expected private equity investment - as well as the resurrection of its bond issue - with the formation of a new holding company and directorate change at three subsidiaries.
Advent poised to take Towergate stake
Towergate is understood to have reached an agreement in principle with private equity firm Advent International.