Cinven, an international private equity firm, and British Columbia Investment Management Corporation (BCI) have agreed to acquire legacy specialist Compre from existing shareholders CBPE Capital, Hudson Structured Capital Management and Compre’s management.
Cinven and BCI will become majority shareholders alongside Compre’s management team led by CEO Will Bridger.
As part of the acquisition, Cinven and BCI will provide the additional capital required to meet the business’s growth plans.
Compre completed 21 transactions in 10 jurisdictions under CBPE’s ownership, including its first in the US, which enabled the group to establish its Bermuda legacy platform.
Cinven and BCI will support Compre’s existing management team who will continue in their roles and as minority shareholders.
Commenting on the acquisition, Bridger said: “I am delighted to announce that Compre will be working with Cinven and BCI as our new majority shareholders to realise our ambitious plans for the future. Compre has a long history in the legacy market built on a client-centric approach that sets us apart.”
“Our reputation for providing bespoke solutions to our clients and for delivering shareholder value has enabled us to establish a company with tremendous potential that I am privileged to lead. My thanks to the CBPE team for their support since 2015.”
“In Cinven and BCI, we have partners that share our values and ethos, and our approach to achieving sustainable growth over the long-term. I very much look forward to working with them and leading Compre in what promises to be an exciting time for our business,” Bridger added.
Terms are not disclosed and completion is subject to regulatory approvals.
