1. Home >
  2. M&A >
  3. Divestiture >
  4. United Kingdom >
  5. Cinven and GIC Acquire Miller

M&A Deal Summary

Cinven and GIC Acquire Miller

On November 9, 2020, private equity firm Cinven and sovereign wealth fund GIC acquired insurance company Miller from Willis Group Holdings

Acquisition Highlights
  • This is Cinven’s 6th and GIC’s 1st transaction in the Insurance sector.
  • This is Cinven’s 85th and GIC’s 7th transaction in the United Kingdom.

M&A Deal Summary
Date 2020-11-09
Target Miller
Sector Insurance
Buyer(s) Cinven
GIC
Sellers(s) Willis Group Holdings
Deal Type Divestiture
Advisor(s) Jamieson Corporate Finance (Financial)

Target

Miller

London, United Kingdom
Miller is a provider of insurance and reinsurance solutions for customers. Miller operates across a number of specialist areas, including marine, energy, credit, and political risks, delegated authorities, professional risks, property, casualty, sports and entertainment, and (re)insurance. Miller was founded in 1902 and is based in London, England.

Search 214,238 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

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 165 of 185
Sector: Insurance M&A 6 of 7
Type: Divestiture M&A Deals 32 of 35
Country: United Kingdom M&A 85 of 88
Year: 2020 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-12 Allegro

Poznan, Poland

Allegro is an online marketplace that connects consumers with merchants. Allegro offers consumers a vibrant and expansive shopping experience, and merchants excellent commercial opportunities. Allegro was founded in 1999 and is based in Poznan, Poland.

Sell -
FOLLOWING 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
Buyer

GIC

Investor Investor Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1981
Size Mega
Type Sector Agnostic
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.

DEAL STATS #
Overall 32 of 46
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 4 of 4
Country: United Kingdom M&A 7 of 8
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-28 Leslie s

Phoenix, Arizona, United States

Leslie's is a specialty retailer of swimming pool supplies and related products. Leslie's was founded in 1963 and is based in Phoenix, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 Altium Packaging

Atlanta, Georgia, United States

Altium Packaging is a customer-centric packaging solutions provider and manufacturer. Altium specializes in customized mid- and short-run packaging solutions, serving a diverse customer base in the pharmaceutical, dairy, household chemicals, food/nutraceuticals, industrial/specialty chemicals, water, and beverage/juice segment. Altium Packaging was founded in 1999 and is based in Atlanta, Georgia.

Buy -

Seller(S) 1

SELLER

Willis Group Holdings

London, United Kingdom
Category Company
Founded 1828
Sector Financial Services
Employees18,400
Revenue 3.8B USD (2014)
DESCRIPTION

Willis Group Holdings Public Limited Company provides insurance brokerage, reinsurance, and risk management consulting services worldwide.

DEAL STATS #
Overall 2 of 2
Sector: Insurance M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
Country: United Kingdom M&A 1 of 1
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-25 Max Matthiessen

Stockholm, Sweden

Max Matthiessen is an advisor within pensions, insurance, and investment, offering advice, analysis, administration, and procurement of pension and insurance solutions to employers, entrepreneurs and individual customers. The Company also offers advice within savings, investment advisory, and asset management. Max Matthiessen was founded in 1889 and is based in Stockholm, Sweden.

Sell -
Mergr

Solution for

Product

Company

Legal