Deal subject to regulatory approval
The Kingsbridge Group Ltd (“Kingsbridge”), the UK’s leading provider of specialist insurance services to contractors, freelancers and the recruitment industry, is delighted to announce that it has agreed to be acquired by NSM Insurance Group (“NSM”) for an undisclosed sum, subject to regulatory approval in the UK and Guernsey. NSM, based in Conshohocken, Pennsylvania, is an industry leader in the development, implementation, marketing and underwriting of profitable, industry-specific insurance programs.
The deal marks an exit for UK private equity firm Dunedin which has backed the business since 2016. Under Dunedin’s ownership, the business has made a number of acquisitions and has enjoyed significant growth, more than doubling its client base and revenues.