Dunedin picks up Kingsbridge for £33m

Following the investment, Kingsbridge will look to grow into new sectors and expand its insurance products aimed at the contractor market. It will also aim to increase its international coverage to insure contractors working overseas.

Previous funding
Livingbridge acquired a minority stake in Kingsbridge for £5m in January 2014. Since investing, the company's profits have almost doubled, according to the GP.

Company
Established in 2001, Kingsbridge provides insurance for contractors, freelancers and independent professionals, as well as accountants. It covers the aerospace, banking, finance, rail, automotive, nuclear, oil & gas and IT sectors.

Kingsbridge employs 55 people and is headquartered in Tewkesbury, Gloucestershire, with further offices in Liverpool and Guernsey. It generates revenues of £7m.

People
Dunedin – Giles Derry, Oliver Bevan (partners).
Livingbridge – Andrew Garside (partner).
Kingsbridge – Steve Wynne (founder, CEO).

Advisers
Equity – KPMG (financial due diligence); PwC (commercial due diligence); Dickson Minto (legal); Intuitus (IT due diligence); Highwire Consulting (management due diligence); KPMG (tax); Colin Paterson (insurance due diligence). 

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