Bain Capital to acquire esure Group for £1.21bn

By Bruno Reis

The Boston-based private equity firm, Bain Capital, will be acquiring the UK insurance company, esure Group plc – making the insurer a private firm.

The deal has been valued at £1.21bn (US$1.55bn), and has received support from esure’s largest shareholders and independent directors, Reuters reported.

The deal sees esure’s shares reach £2.80 ($3.57), a 37% premium from the share price of £2.04 ($2.60) of 10 August.

“The board has indicated to Bain Capital that it would be minded to recommend a firm offer at the price set out in the proposal, subject to the agreement of terms,” stated esure.


The shareholders are Chairperson for the firm, Peter Wood, and Toscafund – which own 30.69% and 17.01% of the insurer’s shares respectively.

“This (Bain offer) was out of the blue. Bain Capital people came to see me in Palm Beach, Florida, at the end of April, I listened to them and then we had a few informal discussions and then it became more serious,” Peter Wood informed Reuters.

“It is very good for all my colleagues, all the employees because Bain Capital are going to grow the business and invest heavily.”

esure was launched in 2001 by the Chairperson and Halifax bank, and became an independent company in 2010.


Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy