Private equity firm Perwyn has successfully acquired UK-based Atec Group in an off-market, bilateral transaction from Kester Capital. Atec, led by CEO Brendan Devine and CFO Ian Gilbert, focuses on digital distribution of specialist personal lines insurance products. The business serves over 340,000 policyholders through its proprietary insurance and comparison portals. Perwyn aims to leverage Atec’s current momentum by bolstering its technology and data-led insurance platform, both organically and through M&A. Matthew Donaldson, former CEO of BGL Group, will join as Atec’s new chairman. The transaction is pending FCA regulatory approval. The advisory roles were fulfilled by Continuum Advisory Partners, Squire Patton Boggs, JEGI Clarity, Oliver Wyman, KPMG, Partners&, Crosslake, and Fusion Analytics.

Insurance, Private Equity, Technology,United Kingdom

Perwyn Acquires Atec Group in Bilateral Transaction