M&A Deal Summary

Perwyn Acquires Atec Group

On June 24, 2024, family office Perwyn acquired insurance company Atec Group from Kester Capital

Acquisition Highlights
  • This is Perwyn’s 1st transaction in the Insurance sector.
  • This is Perwyn’s 13th transaction in the United Kingdom.

M&A Deal Summary

Date 2024-06-24
Target Atec Group
Sector Insurance
Buyer(s) Perwyn
Sellers(s) Kester Capital
Deal Type Secondary Buyout

Target

Atec Group

Chipping Norton, United Kingdom
Atec Group delivers omnichannel solutions focussed on niche and non-standard insurance distribution. Atec Group is based in Chipping Norton, United Kingdom.

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Buyer(S) 1

Buyer
DESCRIPTION

Perwyn is a privately-funded investment firm that seeks to invest in development capital and buyout transactions of businesses valued from £100 to £500 million. Perwyn prefers to be the first round of institutional capital and will consider opportunities throughout the UK and Western Europe. In addition investing equity capital, Perwyn also provides flexible debt capital to companies, investing £5 to £25 million per deal. Perwyn was established in 2013 and is headquartered in London.


DEAL STATS #
Overall 24 of 26
Sector: Insurance M&A 1 of 1
Type: Secondary Buyout M&A Deals 9 of 9
Country: United Kingdom M&A 13 of 14
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-24 iamproperty

-Newcastle upon Tyne, United Kingdom

iamproperty specialises in technology-led software, platforms and services that support property professionals and help them to reduce transaction timescales and improve the security of a sale for both buyer and vendor. iamproperty was founded in 2009 and is based in Newcastle upon Tyne, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-17 Fortech

Rimini, Italy

Fortech is a tech company that provides point-of-sale (POS) software solutions and tech-enabled services for forecourts and EV chargers. The company serves over 14,000 service stations and is a leader in the e-mobility sector. Fortech was formed in 2006 and is based in Rimini, Italy.

Buy -

Seller(S) 1

DESCRIPTION

Kester Capital is a private equity firm focused on middle-market company investments in the UK. The Firm looks to invest a minimum of £15 million in businesses valued up to £100 million. Kester Capital was originally established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co Inc. Kester Capital is based in London.


DEAL STATS #
Overall 10 of 10
Sector: Insurance M&A 2 of 2
Type: Secondary Buyout M&A Deals 6 of 6
Country: United Kingdom M&A 6 of 6
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-28 Jollyes

Waltham Abbey, United Kingdom

Jollyes is a large UK pet retailer. Jollyes has a growing portfolio of over 70 retail park superstores and concessions in garden centres across the UK. Jollyes focuses on providing its loyal and growing customer base with pet products and services that combine great quality and value. Jollyes has recently expanded its offering to customers to include grooming and veterinary services in store. Jollyes was founded in 1935 and is based in Waltham Abbey, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-01 Boundary

London, United Kingdom

Boundary is a tech-enabled provider of marketing-grade digital twins, photorealistic visualisations, and marketing suite software for the global real estate industry. Boundary was founded in 2014 and is based in London, United Kingdom.

Buy -