M&A Deal Summary

ERS Insurance Acquires Bennetts UK

On November 14, 2003, ERS Insurance acquired insurance company Bennetts UK from Advantage Capital for 4M GBP

Acquisition Highlights
  • This is ERS Insurance’s 1st transaction in the Insurance sector.
  • This is ERS Insurance’s largest (disclosed) transaction.
  • This is ERS Insurance’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2003-11-14
Target Bennetts UK
Sector Insurance
Buyer(s) ERS Insurance
Sellers(s) Advantage Capital
Deal Type Add-on Acquisition
Deal Value 4M GBP

Target

Bennetts UK

United Kingdom
Bennetts UK Ltd. is a high street personal lines broker with 20 branches providing motor, home and other personal insurance products.

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Buyer(S) 1

Buyer

ERS Insurance

London, United Kingdom

website


Category Company
Founded 1946
Sector Insurance
DESCRIPTION

ERS Insurance is a Lloyd’s underwriting business (Syndicate 218), which has been a leading motor insurer for more than 60 years, providing quality commercial insurance solutions to customers in the United Kingdom. ERS offers a diverse range of insurance for private cars, classic cars, vans, motorcycles, taxis, minibusses, fleets, haulage, and agricultural vehicles.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2003) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Advantage Capital

London, United Kingdom

website


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Advantage Capital is a UK mid-market, special situation private equity firm. Advantage targets businesses in 'un-loved' sectors, are non-core to the parent company, or facing operational challenges. The Firm targets UK-based companies with £20 to £100 million in sales and enterprise values up to £30 million. Advantage Capital was formed in 2001 and is based in London.


DEAL STATS #
Overall 1 of 3
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 2
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Qmatic

Molndal, Sweden

Qmatic is a provider of electronic queue and customer flow management solutions (CJM). CJM helps bridge the gap between the online and physical world and helps clients deliver personal and friction-free experiences to their customers. Qmatic is at the forefront of the industry by designing customer journeys in the cloud, integrating queue management, appointment booking software, self-service kiosks, signage, and offering business intelligence. Qmatic was founded in 1981 and is based in Molndal, Sweden.

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