Hg Capital is buying A-Plan insurance from Equistone Partners. The trust is contributing £14.9m of its money to the deal. A-Plan Insurance was founded in 1963 and is based in Oxfordshire. It provides products from a wide range of insurers, including SME commercial, motor and home, and high net worth insurance. A-Plan currently operates 73 branches nationwide, with 970 employees and serves over 580,000 policyholders.
The deal leaves Hg Capital Trust with £49m of liquid resources available to deploy in new investments and cuts Hg Capital Trust’s commitment to invest in Hg Capital deals to £194m.
HGT : Hg Capital buys A-Plan Insurance