Dunedin-backed Kingsbridge bolts on Dinghy

Dunedin bought a stake in Kingsbridge in 2016 from previous backer Livingbridge in a deal thought to be worth £33m. The GP deployed capital from its £300m Dunedin Buyout Fund III, which backs UK-based mid-market companies with enterprise values between £20-100m and invests £10-60m in equity.  

This is the second bolt-on made by Kingsbridge, following the acquisition in August 2018 of Larsen Howie, a specialist online provider of insurance, and tax-related services. Kingsbridge employs 85 people and reported profit after tax of £4.5m from revenues of £12.2m in 2018.

Previous funding
Balderton Capital led a $1.2m seed round for Dinghy with participation from ReSolution Underwriting Partnerships and several angel investors in January 2018.

Company
Founded in 2017 and based in Tewkesbury, Dinghy provides professional indemnity cover aimed at freelance professionals operating in the media and creative industries. In addition, it offers equipment cover, public liability, legal expenses and cyber liability.

People
Dunedin – Oliver Bevan (partner). 
Kingsbridge – James Twining, (CEO).

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