TowerBrook Capital Partners, a London and New York-based international investment firm, is to acquire Premium Credit Limited from Cinven.
Premium Credit is a provider of premium finance for commercial and retail insurance products, as well as other specialist lending solutions. The company has driven consistent growth through the development of a sophisticated technology platform and expansion into new product areas, building on Premium Credit’s core capabilities.
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TowerBrook is an experienced investor within the financial services sector, with highly relevant expertise across fintech, insurance and specialty finance companies. Current investments in the sector include the AA Ltd, Access Financial, Battea, CAVU Investment Partners, EisnerAmper, Orchid, Précis Capital Partners, ProSight, Rewards Network, PennantPark-TSO Senior Loan Fund and Validity Finance.
The transaction is expected to close in the second half of 2022 and is subject to customary regulatory and antitrust approvals. Financial terms have not been disclosed.
Source: Private Equity Wire
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