Liberty Corporate Finance (“Liberty”) advised the management team of Compre, the independent specialist legacy group, on the agreement with Cinven and British Columbia Investment Management Corporation (“BCI”) to acquire the business from existing shareholders CBPE Capital LLP (“CBPE”), Hudson Structured Capital Management Limited and Compre’s management.
Cinven and BCI will become majority shareholders alongside Compre’s management team led by CEO Will Bridger and will provide the additional capital required to meet the business’s ambitious growth plans. Terms are not disclosed.
Founded in 1991, Compre is focused on the acquisition and management of discontinued (aka, “run-off) non-life insurance portfolios. The firm has operations in the UK, Bermuda, Finland, Germany, Malta and Switzerland, and has acquired portfolios from major re/insurers such as Allianz, Generali, HSBC and Swiss Re.
Compre completed 21 transactions in 10 jurisdictions under CBPE’s ownership, including its first in the US, which enabled the group to establish its Bermuda legacy platform. This was the product of a highly productive and collegiate working partnership with CBPE, and is a testament to CBPE’s support, that of other Compre shareholders and the commitment of the Compre team.
Cinven and BCI will support Compre’s existing management team who will continue in their roles and as minority
Liberty advised the management team on the terms of their reinvestment in the acquisition structure.