Add-on Acquisition • Insurance

Towergate Insurance Brokers Acquires Paymentshield

On November 9, 2007, Towergate Insurance Brokers acquired insurance company Paymentshield

Acquisition Context
  • This is Towergate Insurance Brokers’ 2nd transaction in the Insurance sector.
  • This is Towergate Insurance Brokers’ 2nd transaction in the United Kingdom.

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M&A Deal Summary

Date November 9, 2007
Target Paymentshield
Sector Insurance
Buyer(s) Towergate Insurance Brokers
Deal Type Add-on Acquisition
Advisor(s) Dow Schofield Watts (Financial)

Target Company

Paymentshield

Southport, United Kingdom
Paymentshield Ltd. provides insurance services in UK.
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Buyer Overview 1

Buyer

Towergate Insurance Brokers

London, United Kingdom

Category Company
Founded 1997
Sector Financial Services
Employees5,000
DESCRIPTION

Towergate Insurance Brokers is a provider of specialist personal and commercial insurance products to individuals and small and medium-sized enterprises (SMEs). Towergate Insurance Brokers was founded in 1997 and is based in London, United Kingdom.


Deal Context for Buyer #
Overall 2 of 4
Sector: Insurance 2 of 4
Type: Add-on Acquisition 2 of 4
Country: United Kingdom 2 of 4
Year: 2007 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-01 Open GI

Warndon, United Kingdom

Open GI is a provider of state-of-the-art, mission-critical broker software, and services to the UK & Ireland general insurance market. Open GI’s software facilitates brokers and insurers to write personal and commercial insurance. Open GI was founded in 1979 and is based in Warndon, United Kingdom.

Buy £276M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-20 Rixon Matthews Appleyard

Kingston Upon Hull, United Kingdom

Rixons is a Chartered Firm of Financial Planners specialising in the management of investment portfolios and pensions.

Buy -