Equistone sells A-Plan stake to HgCapital
Broker chief says it is "business as usual" for the firm.
Private equity firm Equistone Partners Europe has sold its majority stake in A-Plan to HgCapital - another private equity investor - for an undisclosed sum.
Equistone invested in A-Plan in 2008 when it backed an MBO of the business which enabled the management to take a 32% stake.
Since then revenues have increased from £44m to approaching £73m for the financial year ending February 2015.
In the period the broker has opened 19 new branches and increased headcount by 380 to over 970 employees.
Ta
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Konsileo launches academy and grows peer-to-peer learning
Konsileo has launched Konsileo Academy with four content pillars and expanded its peer-to-peer learning.
Ex-Towergate leader Simon Trott joins travel specialist Ancile
Travel insurance broker Ancile Insurance Group has appointed former Towergate Direct boss Simon Trott as CEO.
Brokers push for more from RSA/NIG
Brokers have given a mixed report on communication levels around the RSA and NIG deal but with the process kicking forwards today have expressed the hope the takeover will make more products available.
Biba Conference 2024 countdown: Commercial Express’ Duncan Pritchard
With the 2024 British Insurance Brokers’ Association conference soon upon us, Duncan Pritchard, managing director of Commercial Express, looks forward to productive conversations, and dreams of David Attenborough closing a future event.
Hug Hub extranet offering sold to Endeavour Ventures
Endeavour Ventures has bought Hug Hub’s commercial lines focused digital quote platform, Extranet Hub, Insurance Age can reveal.
Biba Conference 2024 countdown: Abacus’ Richard Burgess
With the Biba Conference on the horizon, Richard Burgess, CEO of Abacus, explains he has never had time to see a guest speaker and why he prefers Audible to Oasis.
Howden grows presence in Wales with Cardiff office
Howden has opened an office in Cardiff as it seeks to be a prominent force in the commercial broking sector in South and West Wales.
Market Movement Index: should I stay or should I go?
New research from analyst Broker Insights shows there is plenty of commercial policy movement – particularly in lower premium classes – which indicates strong competition and adequate capacity. But do brokers agree? Rachel Gordon reports.
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- ABI stops short on voluntary premium finance cap as it sets out five principles
- LV claims director Milliner tipped for DLG role after exit