M&A Deal Summary

Cinven Acquires Premium Credit

On January 13, 2015, private equity firm Cinven acquired financial services company Premium Credit from GTCR for 462M GBP

Acquisition Highlights
  • This is Cinven’s 4th transaction in the Financial Services sector.
  • This is Cinven’s 39th largest (disclosed) transaction.
  • This is Cinven’s 80th transaction in the United Kingdom.
Investment Fate
  • Premium Credit was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2015-01-13
Target Premium Credit
Sector Financial Services
Buyer(s) Cinven
Sellers(s) GTCR
Deal Type Secondary Buyout
Deal Value 462M GBP
Advisor(s) J.P. Morgan Securities (Financial)
Kirkland & Ellis (Legal)

Target

Premium Credit

Surrey, United Kingdom
Premium Credit is a provider of premium finance for commercial and retail insurance products. PCL’s products are a key source of funding for consumers and smaller businesses in the purchase of often mandatory products, such as motor, home or fire insurance. The company also provides financing for the payment of annual fees such as membership subscriptions, professional fees, commercial service charges and school fees. Premium Credit was founded in 1988 and is based in Surrey, United Kingdom.

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Buyer(S) 1

Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 137 of 184
Sector (Financial Services) 4 of 7
Type (Secondary Buyout) 28 of 56
Country (United Kingdom) 80 of 87
Year (2015) 1 of 7
Size (of disclosed) 39 of 62
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-06 Guardian Financial Services

Lancashire, United Kingdom

Guardian Financial Services Ltd. is a provider of insured Life and Pensions products for over 180 years.

Sell £1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-14 Spire Healthcare

London, United Kingdom

Spire Healthcare is a provider of private healthcare, with 37 private hospitals throughout the UK. The company is built on a proud heritage of over 25 years experience of running successful private hospitals. Spire Healthcare is committed to the highest quality of patient care and has earned a reputation as a leader in its field. We were the first private hospital provider to publish outcomes data on our website and we have received numerous awards for our clinical quality, financial performance and leadership, as well as our environmental policy.

Sell -

Seller(S) 1

SELLER

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 48 of 84
Sector (Financial Services) 2 of 5
Type (Secondary Buyout) 12 of 21
Country (United Kingdom) 1 of 2
Year (2015) 1 of 9
Size (of disclosed) 17 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-02 Devicor Medical Products

Pleasant Prairie, Wisconsin, United States

Devicor Medical Products is a developing medical device businesses and products with a clinical preference. The Company owns the Mammotome breast care business which develops, manufactures and markets minimally invasive breast biopsy devices and accessories in over 40 countries worldwide. Devicor is led by CEO Tom Daulton.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 Fundtech

Jersey City, New Hampshire, United States

Fundtech Ltd. is a provider of transaction banking software and services to financial institutions and corporations worldwide. The Company offers SaaS and license-based solutions which facilitate electronic corporate payments and bank-to-bank payment transactions.

Sell $1.3B