Cinven buys Premium Credit for £462m
Andrew Doman stays as chief executive following private equity deal.
Private equity firm GTCR has sold Premium Credit to fellow private equity firm Cinven for an enterprise value of £462m.
The deal comes less than three years after GTCR bought the UK specialty finance provider from MBNA Europe.
Premium Credit was founded in 1988 and works with brokers and insurers to allow businesses and individuals to pay insurance premiums in installments.
Two million customers
The Surrey-based firm's service also extends to providing financing for paying annual fees such as
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