Houlihan Lokey Advises Atec Group

Houlihan Lokey is pleased to announce that Atec Group (Atec), a portfolio company of Kester Capital, has been acquired by Perwyn. The transaction was closed on 16 August 2024.

Atec is a powerful insurance distribution and growth platform led by CEO Brendan Devine and CFO Ian Gilbert. The group consists of Ceta, a leading digital niche personal lines broker, and the MGA Arkel. The business designs, distributes, and underwrites a range of specialist home and leisure insurance products within the U.K. wholesale and retail personal lines market on behalf of more than 340,000 policyholders.

At the forefront of tech-enabled insurance distribution and niche product and channel development, Atec has undergone impressive organic growth. Since 2020, it has more than tripled its revenue and profits, taken its GWP from under £25 million to more than £75 million, and grown customer policy volumes from 125,000 to 345,000.

Houlihan Lokey served as the exclusive financial advisor to Atec. This transaction further strengthens Houlihan Lokey’s leadership in the European insurance brokerage and MGA sector, where the team has advised on six transactions in the past 12 months, and in digital B2C financial services distribution, a core focus of our European financial services and technology team.

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