Advent International backs Towergate
Advent International has backed Towergate Partnership Ltd, a financial services provider, with a £200m investment.
The investor has taken a minority stake in the company. The capital will be used for further growth of the firm.
Kent-based Towergate is a group of companies which include its sister firm Cullum Capital Ventures as well as Towergate Underwriting, Paymentshield, Broker Network and Towergate Financial.
Towergate's operations provide insurance solutions and underwriting. The company was founded in 1997 and employs about 4,000 people in its 100 UK-based offices. The insurance service provider offers 200 insurance products and has gross written premiums of £2bn.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Diana Petrowicz on +44 20 7004 7505 or diana.petrowicz@incisivemedia.com
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