M&A Deal Summary

Cinven and British Columbia Investment Management Acquire Compre

On November 30, 2020, private equity firm Cinven and asset manager British Columbia Investment Management acquired business services company Compre from CBPE Capital

Acquisition Highlights
  • This is Cinven’s 11th and British Columbia Investment Management’s 2nd transaction in the Business Services sector.
  • This is Cinven’s 1st and British Columbia Investment Management’s 1st transaction in Bermuda.

M&A Deal Summary
Date 2020-11-30
Target Compre
Sector Business Services
Buyer(s) Cinven
British Columbia Investment Management
Sellers(s) CBPE Capital
Deal Type Secondary Buyout
Advisor(s) Liberty Corporate Finance (Financial)
DLA Piper (Legal)

Target

Compre

Hamilton, Bermuda
Compre is a global consolidator of closed books of non-life insurance policies. Compre is focused on the acquisition and management of discontinued (also known as ‘run-off’) non-life insurance portfolios and has operations in the UK, Bermuda, Finland, Germany, Malta, and Switzerland. Compre was founded in 1991 and is based in Hamilton, Bermuda.

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Buyer(S) 2

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 167 of 184
Sector (Business Services) 11 of 12
Type (Secondary Buyout) 47 of 56
Country (Bermuda) 1 of 1
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-17 Masmovil

Madrid, Spain

Masmovil is a telecommunications operator. It provides triple-play fixed-line, mobile, and internet services to residential customers, businesses, and operators through a number of brands including Yoigo, MASMOVIL, Pepephone, Llamaya, Lebara, Lycamobile, and Hits mobile. Masmovil was founded in 2006 and is based in Madrid, Spain.

Buy €5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-10 BioClinica

Princeton, New Jersey, United States

Bioclinica is an integrated clinical life science solutions provider, delivering powerful insight into clinical trial development, assuring greater client success in bringing medical therapies to market, for people around the world. Through deep medical, scientific, and technology expertise, the company provides medical imaging and cardiac safety services; clinical adjudication; randomization and trial supply management and optimization; electronic and eSource data capture; site and patient payments; clinical trial management software; and drug safety solutions. Bioclinica’s global team of life science experts serves more than 500 pharmaceutical, biotechnology, and device organizations including the top 20 biopharmaceutical companies and leading CROs through offices in North America, Europe, and Asia. Bioclinica was formed in 1990 and is based in Princeton, New Jersey.

Sell -
Buyer

British Columbia Investment Management

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1999
PE ASSETS 21.9B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.

DEAL STATS #
Overall 13 of 19
Sector (Business Services) 2 of 2
Type (Secondary Buyout) 7 of 9
Country (Bermuda) 1 of 1
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 ClearMacro

London, United Kingdom

ClearMacro Ltd. is a software analytics company provides investment analytics tools to asset managers and other professional investors to make quicker, better informed, and more consistent investment decisions as well as mitigate well-documented human biases. ClearMacro is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Pete and Gerry s Organics

Monroe, New Hampshire, United States

Pete and Gerry's Organics has been raising chickens for three generations and is totally committed to bringing consumers the highest-quality organic, free-range, and pasture-raised eggs possible via its quality brands, including Pete and Gerry’s Organic, Nellie’s Free Range, and Consider Pastures. Pete and Gerry's Organics is a values-led company dedicated to the humane treatment of animals and supporting small family farms that follow the strictest standards of humane animal treatment, safety, and environmental sustainability. Pete and Gerry's Organics was formed in 1950 and is based in Monroe, New Hampshire.

Buy -

Seller(S) 1

SELLER

CBPE Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 1.3B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

CBPE Capital is a private equity firm that seeks investments in mid-sized UK-based businesses. CBPE focuses on transactions valued at between £25 million and £150 million and will consider opportunities in a variety of industries. Sectors of interest include support services (inspection testing, training/education, oil/gas services, business process outsourcing, IT, environmental services, utility services); transportation/distribution (transport infrastructure, transport services, wholesale and distribution); consumer (food/beverage, household products, media, retail); industrial (chemicals, building products, electronics/engineering, paper, packaging, aerospace/defense, automotive, capital goods); healthcare (pharmaceuticals, medical products, diagnostics); and leisure (restaurants, gaming, holiday parks, cinemas, hotels). CBPE was formed in 1984 and is based in London.

DEAL STATS #
Overall 35 of 39
Sector (Business Services) 6 of 6
Type (Secondary Buyout) 14 of 17
Country (Bermuda) 1 of 1
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-17 SpaMedica

Bolton, United Kingdom

SpaMedica is a provider of ophthalmic services, including cataract surgery and macular degeneration treatment, to both NHS and private patients. SpaMedica was founded in 2008 and is based in Bolton, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 The Key

London, United Kingdom

The Key is a provider of expert Information and smart solutions for schools. The Key was founded in 2007 and is based in London.

Buy -
Mergr

Product

Company

Legal