French new entrant buys portfolio of UK firms
French broking and mortgage group Odealim has bought a Leicester-based portfolio of firms including Rhino Trade Insurance, Rhino Home Protect, Rhino Protect, Vantage Fee Protect, Quest and ICPA.
The deal from June was highlighted by M&A specialists MarshBerry citing the portfolio collectively offers a range of specialist insurance products and other services.
MarshBerry added Odealim, which has backing from PE firms TA Associates and Ardian, is a “relatively rare example of a ‘new new’ entrant from overseas entering the UK market for the first time via acquisition” and that the targeted businesses had “common ownership”.
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