M&A Deal Summary

Magenta Partners Acquires iprism Underwriting Agency

On November 18, 2010, growth capital firm Magenta Partners acquired insurance company iprism Underwriting Agency for 8M GBP

Acquisition Highlights
  • This is Magenta Partners’ 2nd transaction in the Insurance sector.
  • This is Magenta Partners’ largest (disclosed) transaction.
  • This is Magenta Partners’ 5th transaction in the United Kingdom.
Investment Fate
  • iprism Underwriting Agency was sold to a consortium of financial buyers in 2014.

M&A Deal Summary
Date 2010-11-18
Target iprism Underwriting Agency
Sector Insurance
Buyer(s) Magenta Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 8M GBP

Target

iprism Underwriting Agency

London, United Kingdom
website
iprism Underwriting Agency Ltd. is an FCA-regulated, insurance e-wholesaler that provides around 1,000 smaller brokers with online access to standardized HNW and SME insurance policies, enabling them to compare price and coverage and execute policies over the company’s proprietary trading platform. iprism Underwriting Agency Ltd. was founded in 2006 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Magenta Partners

London, United Kingdom

Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Magenta Partners is a private investment firm focused on opportunities throughout the UK. Magenta will consider both majority and minority equity positions and looks to invest at least £5 to £20 million per transaction. Specific areas of interest include media, financial services, renewable energy, leisure and retail. Types of transactions include MBOs, growth capital financings, recapitalizations, take privates, PIPES, and project financings. Magenta Partners LLP (formerly known as Rianta Private Equity Partnership LLP) was formed in 2007 and is based in London.

DEAL STATS #
Overall 6 of 15
Sector (Insurance) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 4
Country (United Kingdom) 5 of 10
Year (2010) 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-03 Halo Insurance Services

Uxbridge, United Kingdom

Halo Insurance Services Ltd. is a provider of online car hire insurance services to individuals and companies. Halo Insurance Services was founded in 2009 and is based in Uxbridge, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-21 El Gym Iberia SL

Barcelona, Spain

El Gym Iberia, S.L. operates a gym. It offers cardiovascular, strength, and weights training, as well as fitness classes. The company is based in Barcelona, Spain.

Buy €10M
Mergr

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Company

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