AnaCap buys UK insurance brother Brightside

European financial services private equity firm AnaCap has acquired Brightside, a UK insurance broker. No financial terms were disclosed.


Brightside Group (“Brightside”), is delighted to announce the successful completion of its acquisition by AnaCap Financial Partners LLP (“AnaCap”), the specialist European financial services private equity firm. Under the terms of the agreement, funds advised by AnaCap will acquire 100% of the company.

Established in 2005, AnaCap advises funds with more than €2.1 billion under management across private equity and credit opportunities strategies as well as co-invest. Following acquisitions of Simply Business in July 2013, and more recently AssurOne Group last month, Brightside marks

AnaCap’s third deal in the insurance space in just over a year.

Brightside’s management will partner with AnaCap to scale the Group’s operation through the implementation of a complimentary acquisition strategy targeting niche broking businesses based in the UK. The growth strategy for the business will also focus on forming new insurer and distribution relationships, further development of the company’s online capabilities and expanding areas of product specialisation to create a scaled, high margin insurance specialist.

Paul Williams, Brightside CEO, commented:
“We are delighted to enter into partnership with a financial services specialist investor like AnaCap. We look forward to building upon Brightside’s success to-date and drawing upon AnaCap’sconsiderable expertise to grow the business into one of the leading specialist personal and commercial lines insurance brokers in the UK market.”

Jatender Aujla, Investment Director at AnaCap, added:
“Brightside has grown rapidly over the last few years to become a scaled and relevant player in both the UK personal and commercial lines insurance broking market. We are excited to work with the business during its next phase of development and growth.”
Brightside Group is a top 20 UK insurance broker with a history of rapid growth. The Group delivers market-leading and specialist insurance solutions to individuals and businesses across the UK, both online, directly through its websites and via leading comparison sites, and offline, through its UK call centres.

The Group’s insurance products are distributed through its own brands, which include One Insurance Solution, Commercial Vehicle Direct and eCar Insurance, and also through its Affinity Partners. These partnerships enable Brightside to develop fully white labelled insurance products with well-known brands, including ASDA and Debenhams, which generate new income streams by bringing together the insurance expertise of the Group and the brand loyalty of itspartners. Brightside’s core insurance broking business is supported by its premium finance, medical reporting and lead generation services.

The Group’s success has come as a result of the unique blend of innovative use of technology and high performing industry experts who work within the business. With the aim of becoming the insurance broker of choice for customers, the service provider of choice for insurers and the employer of choice in the industry, Brightside remains focused on commercial growth and outstanding customer service.

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