Some of our recent deals in the BPO market:
LDC invests in CEL Procurement
Clearwater International has advised private equity house LDC on its investment in CEL Procurement, a procurement services provider for public sector organisations.
LDC has taken a minority stake in the procurement services business for an undisclosed sum to support its plans for acquisition opportunities in the UK, US and Canada. CEL employs 35 staff at its headquarters, managing more than £180m of products and services through its purchasing activities which include building materials, energy and agency labour. The company holds exclusive rights to the Procurement for Housing brand, which allows CEL to procure EU compliant framework agreements. Read more about this deal.
Sovereign Capital acquires Kindertons Accident Management
UK private equity firm Sovereign Capital has acquired accident management services provider Kindertons, for an undisclosed sum, in a deal led by the Manchester team at Clearwater International. Kindertons is a nationwide specialist provider of outsourced accident management services for motor insurers and insurance brokers together with claims management services for drivers who have been involved in a road traffic accident. Sovereign will work with the management team to grow the business both organically and through carefully selected acquisitions to meet the increasing demand for its offering. Read more about this deal.
Clearwater Corporate Finance has advised LDC in exiting its investment in outsourced insurance services provider Direct Group
Direct Group, delivers a range of Managing General Agent (MGA) and Third Party Administration (TPA) services across the insurance industry; providing solutions for financial institutions, corporates and affinities.
LDC backed a management buyout of Direct Group in 2007. Since then the business has made four strategic acquisitions to diversify its outsourced services offering; including insurance broker Millennium in 2008 and Evander Validation Services business in 2010. In 2012 it acquired laptop and mobile inspection specialist Circuit, and Simple Insurance. The strategy has since driven sales growth of over 100% with turnover currently around £20 million and headcount increasing from 70 to 450. Direct Group has been acquired by Ryan Specialty Group (RSG), a US-based insurance services group owned by Pat Ryan, the founder of Aon Insurance.
Clearwater International advises mediafinanz AG on sale to Tesch Inkasso GmbH
Clearwater International acted as sole financial adviser to a group of private shareholders on the sale of 100% of the share capital of mediafinanz AG to Tesch Inkasso GmbH, a portfolio company of Avedon Capital Partners.
mediafinanz AG, established in 2000, is a leading TÜV-certified debt and risk management company. The company’s service portfolio mainly consists of debt management services, such as national and international debt collection, legal collection and long-term monitoring, but also comprises risk management solutions such as credit information services and address searches. Read more about this deal.