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

Chartered Accountancy Practice
Northamptonshire, UK Wide

Long established. 230 Clients (120 Limited). Locations: Northamptonshire. Full staff availability. Offers invited.

Asking Price: Offers Invited
Turnover: £300,000

Chartered Practice
Devon, UK Wide

Opportunity due to retirement. Excellent opportunity to acquire a long established Chartered Practice. Very high client retention rates. Flexible lease - Option to buy. Offers invited.

Asking Price: Offers Invited
Turnover: £470,000

LEASEHOLD


Recruitment Business
South East, UK

This business operates in a niche sector. If you would like more information regarding this business for sale please let us know by emailing us or filling our contact form. Offers invited.

Asking Price: £1,350,000
Turnover: £1,800,000


View more businesses for sale

News Search

Latest News

 
15
 
Jul
 

Specialist engineering firm forced to appoint administrators | ADMINISTRATION

Rail contracting company Aspin Group Limited has been forced...

 
12
 
Jul
 

Irish mobile diagnostics firm snapped up by Blancco Technology Group | BUSINESS SALE

Blancco Technology Group, which provides a range of mobile d...

 
11
 
Jul
 

ASL Group completes its third acquisition in 18 months with Reprotec | BUSINESS SALE

Just one week after securing fresh private equity backing, A...

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