Ashcombe Advisers is pleased to announce that it has acted as M&A adviser to Hg Capital on its acquisition of a majority shareholding in A-Plan Insurance, an independent insurance broker in the UK.
Founded in 1963, Oxfordshire-based A-Plan provides products from a wide range of insurers, including SME commercial, motor and home, and high net worth insurance. The Company currently operates 73 branches nationwide, and serves over 580,000 policyholders.
Andrew Land, Partner at Hg Capital, commented. “We are delighted to be backing Carl Shuker and his team in this transaction. Insurance distribution has been a key area of sector focus for us, and we believe we have invested in a true industry champion. We are pleased to have been able to work with Ashcombe on this transaction."
Andreas Wesemann, Partner at Ashcombe Advisers, commented: “Hg Capital is the right new owner of this unique franchise and we are pleased to have been able work with Andrew and his team, drawing on our diverse experience of financial services, including speciality sectors in insurance underwriting and distribution. This mandate caps a successful year for our firm with eight completed transactions in financial services with a combined enterprise value of more than £1.7bn.”