CINVEN AND BCI TO ACQUIRE COMPRE

Legacy specialist Compre is to be acquired by two private equity firms. Cinven and Canadian investor British Columbia Investment Management Corporation (BCI) have agreed to buy Compre from current owners CBPE Capital and Hudson Structured Capital Management. The deal will see Compre receive “the additional capital required to meet the business’s ambitious growth plans”, the firm said. Will Bridger will continue at the helm of Compre as chief executive. Compre is focused on the acquisition and management of discontinued non-life insurance portfolios and has operations in the UK, Bermuda, Finland, Germany, Malta and Switzerland. The transaction, which is expected to close in the second quarter of 2021, is the second insurance industry investment under Cinven’s new financial services sector-focused strategy. It is currently in the process of buying London market broker Miller.