US-based NSM Insurance coverage Group has acquired European specialist insurance coverage supplier Acquis for an undisclosed sum.
Arrange in 2009, Acquis is engaged in offering insurance coverage services and products to the European finance and leasing business.
Acquis underwent a administration buyout (MBO) transaction with the help of specialized non-public fairness investor Dunedin in 2019.
Within the following three years, the UK-based firm claims to have tripled its headcount, acquired 46 purchasers, launched 50 new insurance policy, and elevated turnover by 47%.
With Nsm’s backing, Acquis hopes to grasp its growth targets and broaden its choices in each present and rising markets.
NSM Insurance coverage Group CEO and founder Geof McKernan stated: “We’re excited to additional increase in Europe and the US with the acquisition of Acquis — the chief in modern options for the finance and leasing business.
“We sit up for partnering with Nick and his crew and offering them with our state-of-the-art assets and capability to assist take their enterprise to new heights.”
The closing of the deal is topic to regulatory approval and different customary closing circumstances.
Acquis CEO Nick Chief stated: “This funding from NSM Insurance coverage Group marks a big alternative for Acquis to fulfill the elevated demand we’re witnessing for our merchandise, and to proceed to develop our market-leading insurance coverage options for the asset finance market.
“NSM is an ideal match for Acquis, they perceive our market and are as bold about our development potential as we’re. This deal will allow the continued growth of our individuals, processes and techniques and can permit us to impress our development plans.”
Final week, NSM acquired three firms working within the medical stop-loss insurance coverage and managed care insurance coverage house.