Cinven and British Columbia Investment Management Corporation to Acquire Compre
Posted on 12/01/2020
Private equity firm Cinven and British Columbia Investment Management Corporation (BCI) signed a deal to acquire London-based Compre, a specialist global consolidator of closed books of non-life insurance policies, from CBPE Capital LLP, Hudson Structured Capital Management (HSCM Bermuda), and Compre’s management. Post-deal, Cinven and BCI will become majority shareholders alongside Compre’s management team led by Will Bridger.
Compre is focused on the acquisition and management of discontinued (also known as run-off) non-life insurance portfolios and has operations in the U.K., Bermuda, Finland, Germany, Malta, and Switzerland. The Compre platform is led by CEO Will Bridger and his team. The transaction is expected to complete in the second quarter of 2021 and is subject to regulatory approvals.
Compre was formed in 1991. In 2011, Compre received growth capital from Milestone Capital Partners. In 2015, CBPE Capital invested growth capital into the company and replaced capital from Milestone Capital Partners.