PID’s Acquisition of Saturn

15 Oct 2013
Capital raising, Buy side, MGA

PI_direct_august_2004_csResolution Partners’ role:

  • Prepared PI Direct for bank and private equity discussions;
  • Advised on the selection of the preferred private equity partner
  • Secured attractive valuations for both PID and Saturn
  • Structured the private equity investment and negotiated the key terms of the Banking and Investment agreements / Articles
  • Successfully executed a complex transaction to create the UK’s largest specialist professional indemnity underwriting agency with £55m of GWP

MBO of CFC Underwriting

02 Oct 2013
MGA, MBO

cfc_2012_v4CFC was formed in 2000 by David Walsh, with backing from Hyperion Insurance Group, as an underwriting business focusing on insurance for technology companies and e-risk. It has grown into one of the leading MGAs in London with clients in over 50 countries around the world. The transaction involved the purchase of Hyperion’s majority stake, together with the interests of certain other shareholders.

Key features of the transaction:

  • Transaction funded entirely with equity – provided by a small number of HNW individuals;
  • Existing management were able to realise some cash at Completion;
  • Attractive management ratchet negotiated – provides enhanced return to management at exit linked to performance;
  • All employees invited to participate in the transaction.