Private equity (PE)
Complete Cover Group reveals return to profit in 2019
The broker's turnover fell but adjusted Ebitda grew in 2019 according to its latest set of financial results, as the business also comments on its sale to Ormiston Holdco in early 2020.
Markerstudy "keen to get back on the acquisition drug" after £200m investment
Group underwriting director Gary Humphreys says funding agreement led by Pollen Street Capital restructures the MGA's debt and opens the business up for making further deals.
Markerstudy in £200m investment deal led by Pollen Street Capital
QIC is also set to participate in the transaction, as Markerstudy says it plans to grow organically and through acquisitions.
PIB’s Brendan McManus lifts lid on Apax deal
The leader says brokers have become even more popular with private equity investors following Covid-19 as many have sustained performance and kept hold of revenue despite the pandemic.
PIB sold to Apax funds
The investment is set to “accelerate strategic M&A” for the broker as it is also confirmed that former backer, the Carlyle Group, has retained a minority stake in the business.
A-Plan to absorb Howden’s UK retail business
More than 100 staff are set to move across as A-Plan is set to become Howden’s retail flagship.
Private equity picks up the AA for £219m
An offer from Towerbrook and Warburg Pincus has been recommended to shareholders.
JM Glendinning hits acquisition trail after MBO
Group CEO Nick Houghton discusses how the deal with Synova Capital came about and reveals ambition to grow JMG's GWP from £45m to £200m in the next five years.
JM Glendinning management completes MBO backed by Synova Capital
PE firm to support organic growth and acquisition plans as JMG aims to grow four-fold in five years, with former Stackhouse Poland boss Tim Johnson joining board as Jeremy Cary becomes an adviser.
Broker space still attractive to investors
Inflexion’s Peter Shaw tells Insurance Age why the sector is still a safe bet for private equity.
Willis Towers Watson sells Miller
Private equity firm Cinven and Singapore wealth fund GIC have bought the specialist broker for an undisclosed sum.
TowerBrook and Warburg Pincus team up to progress AA takeover talks
Centerbridge and Platinum Equity have pulled out of discussions "by mutual agreement" as AA continues to explore options including an equity raise.
Blog: Has the pandemic strengthened the case for brokers to seek PE deals?
Partnering with private equity may help brokers succeed during what looks set to be a complex, challenging, but potentially rewarding period, argues Andrew Backen, partner, Equistone Partners Europe.
Saga confirms £150m capital raise and investment from ex CEO Sir Roger De Haan
Business also posts pre-tax loss of £55.5m for the first six months of 2020.
Saga announces £150m equity capital raise
Former owner and CEO, Sir Roger De Haan, is expected to invest up to £100m in the business as he returns to the board as non-executive chairman.
Deadline extended for AA takeover talks
The three potential buyers have an additional four weeks to make a bid for the AA as the motor specialist says discussions are progressing.
GRP reveals management changes
Stuart Grieb joins the consolidator as regional managing director for the South, while Chris Haggart moves to take on wider responsibilities across GRP's retail division.
Ex-Kwik Fit and Sure Thing! boss Devine joins Ceta-owner Atec Group as CEO
He replaces John Bibby, who has stepped down from the business but remains a shareholder.
Jensten Group buys PI broker in second lockdown deal
HTC Associates, based in Derbyshire, brings around £5m in GWP to Jensten.
Ardonagh completes £2bn debt raise and deals for Bravo Group and Arachas
The move, announced in June, brings Broker Network back into the fold as Ardonagh confirms £300m war chest to fund future deals.
Jensten Group replace CEO Darling with Cega's Hardie
Cega Group chief executive Alistair Hardie is to replace Bob Darling as CEO of Jensten Group, the broker has announced.
GRP moves into health insurance sector with new deal
Towcester-based broker Premier Choice Healthcare becomes consolidator's healthcare hub.
The Blog Spot: Ardonagh and Broker Network - will this lockdown family reunion have a happy ending?
With Broker Network returning to the fold, Insurance Age content director Jonathan Swift reflects on why Ardonagh Group is looking Back to the Future as its plots post pandemic growth.
Jensten Group-funder makes Ireland move
Livingbridge has taken a stake in independent personal lines broker Chill Insurance.