Global firm swoops for equipment insurance specialist
Bristol-based Momentum Corporate Finance has advised on a deal which has seen Acquis enter into an agreement to be acquired by NSM Insurance Group.
For more than 30 years, NSM has specialised in investing in a broad portfolio of insurance companies in the US and Europe.
Acquis went through an MBO process in 2019 when they were backed by specialist private equity investor Dunedin. Subsequently, Acquis was able to accelerate its growth plans, tripling the size of its work force, acquiring 46 customers, launching 50 additional insurance programmes and increasing turnover by 47% within three years.
This new investment will ensure Acquis is well placed to achieve its growth ambitions, expanding its solutions and services in existing and new territories.
“This investment from NSM Insurance Group marks a significant opportunity for Acquis to meet the increased demand we are witnessing for our products, and to continue to develop our market-leading insurance solutions for the asset finance market,” said Nick Leader, Acquis CEO. “NSM is a perfect fit for Acquis, they understand our market and are as ambitious about our growth potential as we are. This deal will enable the continued development of our people, processes and systems and will allow us to galvanise our growth plans. NSM’s confidence in Acquis is testament to the hard work and dedication of our team in building the company we are today.”
Geof McKernan, CEO and founder of NSM Insurance Group, added: “We are entrepreneurs at heart and we seize compelling opportunities to partner with high-performing companies with significant growth opportunity. We are excited to further expand in Europe and the U.S. with the acquisition of Acquis — the leader in innovative solutions for the finance and leasing industry. We look forward to partnering with Nick and his team and providing them with our state-of-the-art resources and capacity to help take their business to new heights.”
Momentum Corporate Finance acted as lead advisor to the shareholders of Acquis.
Rob Crews, partner at Momentum Corporate Finance, said: “Since we founded Momentum in 2005, a key factor of our success has been based on guiding exceptional management teams through all stages of the complex MBO lifecycle, from securing investment to eventual exit. We are delighted to have been involved in the original MBO backed by Dunedin right through to this exit to NSM.
“Its success is testament to the talent, drive and tireless efforts of Nick and his management team supported by an ideal partner in Dunedin, and we are delighted to have helped all of the shareholders achieve an exceptional result.
“This is the third deal since the start of 2022 where we have advised on the exit of a private equity backed business where we have been involved throughout the entire MBO lifecycle, highlighting our long-term approach and ability to maximise value in a range of transaction scenarios.”
The closing is subject to regulatory approvals and other customary closing conditions.
