We advised private equity and alternative investment platform, Connection Capital, on its backing of the £10.7m management buyout of Hood Group Limited, a UK-based specialist in insurance distribution and services.
Hood Group is an insurance intermediary that distributes home and travel policies through its blue-chip customer base and D2C channel, Select & Protect, in addition to its outsourced services offering for corporate clients. It has strong partnerships with some of the UK’s most prominent underwriters, including AXA, ERGO, and Bspoke, and a customer contact centre which serves its 520,000-strong customer base.
With Connection Capital’s support and demonstrable sector expertise in the insurance sector, Hood Group is poised to build on its ongoing success, invest in its Direct and Affinity (B2B) insurance distribution business, expand into new vertical sectors, and take advantage of a fragmented digital insurance marketplace.
Our corporate team, led by partner and Nottingham head of corporate Victoria Elliott, comprised senior associate Jamie Gillespie and solicitors Sophie Holdsworth and Sophie Gill.
The corporate team was supported by several other disciplines: employment (Helen Webster, Natasha Cole), pensions (Paul Wild), real estate (Barbara Rollin, Emma Worthington), IP, commercial and technology (Andrew Hartshorn, Clair Ruskin-Brown, Charlotte Cassels, Harry Powney), regulatory and business defence (Sophie McCormick), banking (Alison Davidson-Cox, Emma Birch), commercial dispute resolution (Claire Herbert, Katie Shaw), private client (Kathleen Ryan).
Victoria Elliott commented: “We are delighted to have acted for Connection Capital on the MBO of Hood Group. Our team provided comprehensive legal advice throughout the transaction, ensuring all aspects were handled to facilitate a smooth and successful buyout. Connection Capital has a strong track record of supporting businesses in the insurance sector and its investment will undoubtedly help Hood Group accelerate its growth. Congratulations to the management team on this significant milestone.”