Open GI in MBO
Parent company has teamed up with private equity house to make purchase.
Open GI’s parent company, Open International, has carried out a management buyout to purchase the business from its private shareholders for an undisclosed sum.
Open International, which also owns Open GI London and PowerPlace, made the purchase with the backing of Montagu Private Equity.
In 2006, Montagu paid £182m for what was then known as the general insurance arm of Misys.
Following this deal, Towergate announced the acquisition of Open GI in September 2007 for £276m.
At the time the
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