Private equity firm takes minority stake in Seventeen Group
European mid-market private equity firm IK Partners has signed up to take a minority stake in Seventeen Group, marking its entry into the UK insurance market.
The PE house will, subject to regulatory approval, buy the holding from Seventeen’s founding shareholders and management team for an undisclosed sum.
Set up in 1982, London-headquartered Seventeen (see box) has grown to 25 offices managing around £400m in premiums.
Seventeen GroupThe group comprises:
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