M&A Deal Summary

RVU Acquires Tempcover

On March 1, 2022, RVU acquired insurance company Tempcover from Connection Capital

Acquisition Highlights
  • This is RVU’s 1st transaction in the Insurance sector.
  • This is RVU’s 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2022-03-01
Target Tempcover
Sector Insurance
Buyer(s) RVU
Sellers(s) Connection Capital
Deal Type Add-on Acquisition

Target

Tempcover

Fleet, United Kingdom
Tempcover is an online InsurTech specializing in short-term car, van, courier, motorbike, student, and learner insurance having sold more than 3.9-million policies. The company enables drivers aged 18-75 with full UK, provisional, and EU licenses to purchase temporary fully comprehensive cover from as little as 1-hour to 28-days in duration. Its short-term policies offer truly flexible cover for the time drivers actually need with no long-term commitment or auto-renewals. Tempcover was founded in 2006 and is based in Fleet, United Kingdom.

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Buyer(S) 1

Buyer

RVU

London, United Kingdom

Category Company
Founded 2000
Sector Internet Software and Services
DESCRIPTION

RVU empowers people to make confident decisions with its unique set of brands, the excitement of a startup, and the strength of well-established, trusted household names. Uswitch.com is a comparison website for home services switching, helping consumers save money on their gas, electricity, broadband, TV, and phone. Confused.com is an insurance comparison platform that pioneering the way consumers make choices about financial services. Money.co.uk is a comparison website for financial services. Consumers can compare loans, credit cards, bank accounts, and insurance from more than 600 providers. Rastreator and LeLynx.fr are online comparison platforms in Spain and France respectively, helping consumers compare a range of financial services and home services products. Mojo Mortgages brings together smart tech and the best human mortgage experts to empower more consumers to access personalized mortgage recommendations. The company has the power to reach millions of consumers around the world, solving everyday complex problems through outstanding experiences. RVU was formed in 2000 and is based in London.


DEAL STATS #
Overall 2 of 2
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
Country: United Kingdom M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-10 Mojo Mortgages

Manchester, United Kingdom

Mojo Mortgages is an online digital mortgage broker which has developed a sophisticated technology platform that allows customers to undertake a full market comparison of mortgage providers and their products and to complete the entire process seamlessly from initial application to completion. Mojo Mortgages was founded in 2017 and is based in Manchester, United Kingdom.

Buy -

Seller(S) 1

SELLER

Connection Capital

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2010
PE ASSETS 295M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Connection Capital is an asset manager that provides investors direct access to a variety of investment opportunities. These include direct private equity investments, structured debt, and commercial property deals. Connection Capital was formed in 2010 and is headquartered in London.


DEAL STATS #
Overall 8 of 9
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
Country: United Kingdom M&A 8 of 9
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-12 Silverfish

Cornwall, United Kingdom

Silverfish is the business to business (‘B2B’) value-add supply platform for premium mountain bikes and crossover products, related e-mountain bikes, and parts and accessories. It has a nascent but growing direct to consumer (‘D2C’) offering through its specialist suspension service centre and e-commerce platform. Silverfish was founded in 1999 and is based in Cornwall, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-20 Sleeperz Hotels

London, United Kingdom

Sleeperz Hotels is an operator of stylish budget/boutique hotels built in prime city center locations, typically adjacent to a major rail station. Sleeperz Hotels was founded in 2008 and is based in London, United Kingdom.

Sell -