Capulus: Sold to Specialist Risk Group with Cripps' Guidance
Deal News | Nov 16, 2024 | PDT Solicitors
Cripps, a law firm with a strong insurance practice, successfully advised on the sale of Capulus, a specialist Motor Fleet Managing General Agent (MGA) based in Wales, to MX Underwriting Limited, a part of Specialist Risk Group (SRG). The swift transaction, from instruction in early August to contract exchange in early September 2024, highlights Cripps' adeptness in managing complex deals efficiently. Capulus, known for its high-quality service in the motor fleet sector, and One Claim, which provides end-to-end claims management, were strategically transferred to SRG to enhance its underwriting capabilities. The sales were completed before the Autumn budget with additional support from advisers like MarshBerry and Bevan Buckland, demonstrating collaborative excellence in the industry.
Sectors
- Insurance
- Legal Services
Geography
- United Kingdom – The companies involved in the transaction, Capulus and Cripps, are based in the UK, where the sale transaction took place.
Industry
- Insurance – The article discusses the sale of Capulus, a motor fleet Managing General Agent, and One Claim, both of which operate in the insurance sector, focusing on underwriting and claims management.
- Legal Services – Cripps, a law firm, played a significant role in advising and facilitating the transactions, highlighting the importance of legal services in M&A activities.
Financials
- Not disclosed – The financial terms of the transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Capulus | Target Company | Company | A specialist motor fleet Managing General Agent based in Wales, known for bespoke solutions to UK broker partners. |
| One Claim | Target Company | Company | A claims management business that complements Capulus's broking activities. |
| MX Underwriting Limited | Bidding Company | Company | The underwriting arm of the Specialist Risk Group, acquiring Capulus to enhance its underwriting capabilities. |
| Specialist Risk Group (SRG) | Bidding Company | Company | A group acquiring Capulus and One Claim to strengthen its sector offerings. |
| Cripps | Legal Advisor | Company | A legal firm providing advice and facilitating the sale of Capulus and One Claim. |
| Lowri Jones | Insurance M&A Partner | Person | An Insurance M&A Partner at Cripps, who played a key role in the transactions. |
| Darren Ovenden | Director at Capulus | Person | A director at Capulus involved in the transaction. |
| Kevin Smith | Director at Capulus | Person | A director at Capulus involved in the transaction. |
| MarshBerry | Advisor | Company | An advisory firm involved in the transaction process. |
| Bevan Buckland | Advisor | Company | An advisory firm involved in the transaction process. |
| Parisi Tax | Advisor | Company | An advisory firm involved in the transaction process. |