Premium Credit bought by Towerbrook Capital Partners
TowerBrook Capital Partners, a London and New York-based international investment firm, has agreed to buy Premium Credit from Cinven.
The terms of the deal were not disclosed.
Cinven bought Premium Credit, a provider of premium finance for commercial and retail insurance products, as well as other specialist lending solutions, for an enterprise value of £462m in 2015.
Tara Waite, CEO of Premium Credit, said: “After a successful period under Cinven’s ownership, we are delighted to have the opportunity to partner with TowerBrook in the years ahead. TowerBrook has an impressive history of investing in financial services
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