M&A Deal Summary

Vitruvian Partners and EQT Acquire CFC Underwriting

On March 21, 2017, private equity firms Vitruvian Partners and EQT acquired insurance company CFC Underwriting

Acquisition Highlights
  • This is Vitruvian Partners’ 1st and EQT’s 2nd transaction in the Insurance sector.
  • This is Vitruvian Partners’ 20th and EQT’s 6th transaction in the United Kingdom.

M&A Deal Summary
Date 2017-03-21
Target CFC Underwriting
Sector Insurance
Buyer(s) Vitruvian Partners
EQT
Deal Type Buyout (LBO, MBO, MBI)

Target

CFC Underwriting

London, United Kingdom
CFC Underwriting is a specialist insurance provider, a pioneer in emerging risk, and a market leader in cyber, serving more than 100,000 businesses in over 90 countries. CFC Underwriting was founded in 1999 and is based in London, United Kingdom.

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Buyer(S) 2

Buyer

Vitruvian Partners

London, United Kingdom
Category Private Equity Firm
Founded 2006
PE ASSETS 8.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is £25 to £150 million in transactions valued up to £500 million. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.

DEAL STATS #
Overall 30 of 67
Sector (Insurance) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 6 of 12
Country (United Kingdom) 20 of 27
Year (2017) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-16 OAG

Luton, United Kingdom

OAG is a major flight information company that provides accurate, timely and actionable digital information and applications to the world’s airlines, airports, government agencies and travel-related service companies. OAG was founded in 1929 and is based in Luton, United Kingdom

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-02 JacTravel

London, United Kingdom

JacTravel Ltd. is a hotel bed-bank business providing tour operators, travel agents and online retailers with access to hotel beds at more than 10,000 independent and small chain hotels. JacTravel Ltd. was established in 1975 and is based in London, UK.

Sell £200M
Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 164 of 317
Sector (Insurance) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 62 of 85
Country (United Kingdom) 6 of 19
Year (2017) 4 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-21 Innovyze

Broomfield, Colorado, United States

Innovyze is a global provider of wet infrastructure business analytics software solutions designed to meet the technological needs of water/wastewater utilities, government agencies, and engineering organizations worldwide. The company’s clients include the majority of the largest UK, Australasian, East Asian and North American cities, foremost utilities on all six continents, and ENR top-rated design firms. Innovyze was founded in 1996 and is based in Broomfield, Colorado.

Buy $270M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-23 GPA Global

Shenzhen, China

GPA Global is an one-stop-shop premium packaging and displays solutions provider which sources from a wide network of more than 100 vendors across China. GPA Global was founded in 2009 and is based in Shenzhen, China.

Buy -
Mergr

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