Capulus and One Claim Successfully Sold to Specialist Risk Group
Deal News | Nov 16, 2024 | Cripps
Cripps, a respected advisory firm, played a pivotal role in the sale of Capulus, a specialist motor fleet Managing General Agent headquartered in Wales, to MX Underwriting Limited, the underwriting division of Specialist Risk Group (SRG). Known for its bespoke services, Capulus's acquisition expands SRG's motor fleet underwriting capabilities. The Cripps insurance team, despite being engaged on short notice in early August 2024, managed to secure the exchange of contracts by early September, showcasing their agility and collaborative skills. Following the successful sale of Capulus, Cripps facilitated the sale of One Claim, a claims management service complementary to Capulus's operations, also to SRG. This transaction was strategically aligned with the interests of all parties involved. The efficient completion of these transactions, ahead of the Autumn budget, was assisted by Cripps's guidance, including a pre-completion buy-out of a joint venture party. This was further supported by MarshBerry, Bevan Buckland, and Parisi Tax, with the collective effort praised by Capulus directors Darren Ovenden and Kevin Smith.
Sectors
- Insurance
- Financial Services
- Mergers and Acquisitions
Geography
- Wales – Capulus, one of the companies involved in the sale, is based in Wales.
- United Kingdom – The primary operations and services offered by Capulus and One Claim cater to the UK market.
Industry
- Insurance – The acquisition involves companies operating in the insurance sector, specifically underwriting and claims management.
- Financial Services – The transaction involves advisory services and underscores the involvement of various financial consultancy roles.
- Mergers and Acquisitions – The article describes the sale of two companies, Capulus and One Claim, indicating M&A activity.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cripps | Legal Advisor | Company | Advised on the sale of Capulus and One Claim to SRG. |
| Capulus | Target Company | Company | A specialist motor fleet Managing General Agent based in Wales. |
| One Claim | Target Company | Company | A claims management business complementary to Capulus's operations. |
| Specialist Risk Group (SRG) | Buyer | Company | Acquired Capulus and One Claim to enhance its underwriting capabilities. |
| MX Underwriting Limited | Buyer | Company | The underwriting arm of SRG that acquired Capulus. |
| MarshBerry | Advisor | Company | Collaborated in completing the transactions. |
| Bevan Buckland | Advisor | Company | Collaborated in completing the transactions. |
| Parisi Tax | Advisor | Company | Collaborated in completing the transactions. |
| Darren Ovenden | Director | Person | Director of Capulus involved in the transaction. |
| Kevin Smith | Director | Person | Director of Capulus involved in the transaction. |
| Lowri Jones | Insurance M&A Partner | Person | Insurance M&A partner at Cripps commenting on the transaction. |