M&A Deal Summary

ERS Insurance Acquires Bennetts UK

On November 14, 2003, ERS Insurance acquired insurance company Bennetts UK from Advantage Capital for 4M GBP

Acquisition Highlights
  • This is ERS Insurance’s 1st transaction in the Insurance sector.
  • This is ERS Insurance’s largest (disclosed) transaction.
  • This is ERS Insurance’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2003-11-14
Target Bennetts UK
Sector Insurance
Buyer(s) ERS Insurance
Sellers(s) Advantage Capital
Deal Type Add-on Acquisition
Deal Value 4M GBP

Target

Bennetts UK

United Kingdom
Bennetts UK Ltd. is a high street personal lines broker with 20 branches providing motor, home and other personal insurance products.

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Buyer(S) 1

Buyer

ERS Insurance

London, United Kingdom
Category Company
Founded 1946
Sector Insurance
DESCRIPTION

ERS Insurance is a Lloyd’s underwriting business (Syndicate 218), which has been a leading motor insurer for more than 60 years, providing quality commercial insurance solutions to customers in the United Kingdom. ERS offers a diverse range of insurance for private cars, classic cars, vans, motorcycles, taxis, minibusses, fleets, haulage, and agricultural vehicles. ERS Insurance was founded in 1946 and is based in London, United Kingdom.

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 (2003) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Advantage Capital

London, United Kingdom
Category Private Equity Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Advantage Capital is a UK mid-market, special situation private equity firm. Advantage targets businesses in 'un-loved' sectors, are non-core to the parent company, or facing operational challenges. The Firm targets UK-based companies with £20 to £100 million in sales and enterprise values up to £30 million. Advantage Capital was formed in 2001 and is based in London.

DEAL STATS #
Overall 1 of 3
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 2
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Qmatic

Molndal, Sweden

Qmatic is a provider of electronic queue and customer flow management solutions (CJM). CJM helps bridge the gap between the online and physical world and helps clients deliver personal and friction-free experiences to their customers. Qmatic is at the forefront of the industry by designing customer journeys in the cloud, integrating queue management, appointment booking software, self-service kiosks, signage, and offering business intelligence. Qmatic was founded in 1981 and is based in Molndal, Sweden.

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