M&A Deal Summary

Lancashire Acquires Cathedral Capital

On August 7, 2013, Lancashire acquired insurance company Cathedral Capital from Century Equity Partners and Alchemy Partners

Acquisition Highlights
  • This is Lancashire’s 1st transaction in the Insurance sector.
  • This is Lancashire’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2013-08-07
Target Cathedral Capital
Sector Insurance
Buyer(s) Lancashire
Sellers(s) Century Equity Partners
Alchemy Partners
Deal Type Add-on Acquisition

Target

Cathedral Capital

London, United Kingdom
website
Cathedral Capital Ltd. is a provider of various insurance products in the United Kingdom.

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Buyer(S) 1

Buyer

Lancashire

Hamilton, Bermuda

website


Category Company
Founded 2005
Sector Insurance
Employees255
Revenue 748M USD (2021)
DESCRIPTION

Lancashire is a global provider of specialty insurance products operating in Bermuda, London and Dubai. The company focuses on short-tail, mostly on a direct basis, specialty insurance risks under the four general categories: property, energy, marine, and aviation. Lancashire was founded in 2005 and is based in Hamilton, Bermuda.


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 (2013) 1 of 1

Seller(S) 2

SELLER

Century Equity Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 885M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Century Equity Partners is an asset management firm invests in lower middle-market companies located in the US. Century Equity Partners focuses on companies with rapidly growing, profitable businesses led by strong management teams with an enterprise value between $15 and $300 million and equity capital ranging from $5 to $30 million and in conjunction with its limited partners and select co-investors can commit up to $100 million to a single transaction. The Firm targets companies operating in the fields of financial services, insurance, and healthcare services. Types of transactions include buyouts and growth capital. It seeks minority interest and also considers co-invests. Century Equity Partners was formed in 1987 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 9 of 23
Sector (Insurance) 6 of 12
Type (Add-on Acquisition) 4 of 14
Country (United Kingdom) 1 of 2
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-03 Digital Risk

Maitland, Florida, United States

Digital Risk, LLC provides mortgage data analytics and risk mitigation services to global financial institutions. The company’s unique 360° Risk Analytics product offering integrates real-time fraud detection algorithms and predictive modeling with forensic underwriting services to provide its customers with actionable output.

Sell $202M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-20 Catalina Holdings

Hamilton, Bermuda

Catalina Holdings is a Bermuda-based holding company that is licensed as a Class IV reinsurance company. Catalina Holdings was founded in 2005 and is based in Hamilton, Bermuda.

Sell -
SELLER

Alchemy Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1997
PE ASSETS 4.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Alchemy Partners is a private equity firm that targets investments in the UK, Ireland, and German-speaking Europe. Alchemy looks to commit £25 to £150 million per transaction in areas including financial services, information technology, and telecoms. Historically, the Firm primarily targeted leveraged buyouts, buy-ins, and growth capital financings, but today Alchemy specializes in distressed and undervalued or underperforming businesses. Alchemy Partners was formed in 1997 and is based in London.


DEAL STATS #
Overall 11 of 14
Sector (Insurance) 2 of 3
Type (Add-on Acquisition) 7 of 10
Country (United Kingdom) 8 of 10
Year (2013) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-01 ATH Resources

Doncaster, United Kingdom

ATH Resources Plc is a operator of surface coal mines in the United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-27 InterGlobal Insurance

Farnham, United Kingdom

InterGlobal is a niche insurer operating in the high growth international private medical insurance (IPMI) market, typically for large corporates. It was a turnaround and is now developing strongly.

Sell -