AnaCap sells off Simply Business for £120 million

Mon, 11 Apr 2016 | BUSINESS SALE

Private equity company AnaCap has sold off UK online insurance broker Simply Business for a reported £120 million.

Simply Business has been bought by fellow New York-based private equity firm Aquiline Capital Partners in a deal that will see AnaCap make a return worth four times what the company put in. AnaCap had previously backed a management buyout (MBO) at Simply Business in 2013.

Founded in 2005, Simply Business provides insurance policies for small companies, has around 350,000 customers on its books and employees in the region of 300 people in its London and Northampton offices.

The business is in good shape, having increased revenues from £23 million in 2012 to around £40 million in 2015. Its chief executive was a former executive at travel company lastminute.com and dating giant match.com.

Tassilo Arnhold, one of the directors at AnaCap, said: “When we acquired Simply Business, we saw a rare opportunity to support the management buyout of a digital disruptor in a fast-growing segment of the insurance industry.

“Together, we have delivered exceptional growth and a great return for our investors, and we wish Jason and his team well as they move into the next exciting phase of their growth with Aquiline.”

Jason Stockwood, the chief executive of Simply Business, added: "Since day one, innovation has been at the heart of what we do at Simply Business. Over the past three years we have transformed our customer conversion and retention rates, driven by the installation of a pricing analytics engine, and have become the first commercial insurance broker in the UK to deploy real time pricing.

"We would like to thank AnaCap wholeheartedly for their support and guidance during this enormously successful period."

For more information, view other Professional and Financial Businesses for Sale.


Share this article



Latest Businesses for Sale

Garage Services
Oxfordshire, UK Wide

Easy to run. Situated in the beautiful rural town of Henley on Thames. Long established business in walk in condition. Well reputed with regular and repeat trade. Scope to further develop the business. Offers invited.

Asking Price: £399,950
Turnover: £360,000

LEASEHOLD


Fencing Business
Manchester, UK Wide

Long established. Genuine reason for sale due to retirement. Highly reputed and well known business. High amount of regular and repeat trade. Full training provided by current owner. Offers invited.

Asking Price: £1,150,000
Turnover: £516,000

FREEHOLD


Market Leading B2B Distributor
South East, UK

The business distributes a broad range of products, including fashion accessories, cosmetics, gifts, homeware, toys and furniture. Award-winning B2B distributor with an excellent track record of growth, over 65% in the last four years. The busines...

Asking Price: Offers Invited
Turnover: £3,000,000

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

 
15
 
Oct
 

Tomlinsons Dairies falls into administration | ADMINISTRATION

Wrexham-based dairy firm Tomlinsons Dairies has announced to...

 
14
 
Oct
 

PE firm snaps up independent video game firm | BUSINESS SALE

Private equity firm NorthEdge Capital has successfully acqui...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources