Beat Capital Partners set to merge with Paraline UK

Mon, 27 Aug 2018 | MERGER

Subject to regulatory approval, the merger between Beat Capital Partners and insurance investment vehicle Paraline UK is set to go ahead and will see the Beat platform supporting independent underwriting businesses.

A venture capital investor, Beat backs insurance industry businesses by providing infrastructure, risk capital, “A+” rated papers as well as guidance and support.

Established in 2010 and with £110 million worth of capacity, Paraline UK is managed by Asta and is the third party managing agency for Lloyd’s. Paraline is owned by private investors including Wand Partners Inc.

Co-founder Tom Milligan said: “Beat has grown rapidly since its formation in 2017. This deal gives us access to a second Lloyd’s platform alongside Neon 2468 that benefits our existing investee companies and enhances our offering to proven lead underwriters who have the ambition to build their own business.

“We are delighted to partner with Paraline, who have a track record of successful insurance investment.”

Bruce Schnitzer, chair of Paraline Group, and John Struck of Paraline will join the Beat board of directors, which will be chaired by John Cavanagh, who is currently the non-executive director of Beat. Active underwriter and a director of Paraline Group of Syndicate 4242, Paul Rayner will also become chief financial officer of Beat.

Schnitzer commented: “This transaction is a great move for our business. It brings together a talented group of established insurance leaders and a powerful shareholder group with a shared, long-term vision.”

As a result of the merger, Bermuda-based insurance holding company Paraline Group will join Neon Holdings Ltd as Beat’s strategic investment partner.

For more news stories about mergers, click here. For all our business for sale listings, click here.


Share this article



Latest Businesses for Sale

Licensed Law Firm
Surrey, South East, UK

CLC licensed law firm based in Surrey looking for a sale due to retirement. Owner happy to stay on in short term for smooth handover. Work types are Residential Conveyancing, Wills & Probate and some Commercial Property matters. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

General Law Practice
Hertfordshire, South East, UK

Small general practice for sale based in Hertfordshire specialising in Commercial & Residential Conveyancing and Private Client with a small amount of litigation. SRA regulated, limited company structure. Looking to either sell the company or alterna...

Asking Price: Offers Invited
Turnover: £400,000

Productivity Improvement Consultancy
UK Wide

This long established and market leading company is the pre-eminent name in the UK for providing specialist productivity improvement across all business sectors and delivered globally. Its role is to help clients get more out of their businesses by r...

Asking Price: Offers Invited
Turnover: £2,900,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
10
 
Jul
 

Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...

 
09
 
Jul
 

John Lewis to close eight stores as COVID-19 accelerates shift to online | BUSINESS NEWS

Department store chain John Lewis has said that eight of its...

 
09
 
Jul
 

Chancellor cuts VAT on hospitality as part of £30 billion rescue plan | BUSINESS NEWS

Chancellor Rishi Sunak has announced a £30 billion pla...

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