Livingbridge invests in Chill Insurance

Katharine Hidalgo
17 June 2020

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Livingbridge has invested in insurance broker Chill Insurance.

Equity was drawn from Livingbridge 6. The fund, which closed on £660m in September 2016, was 70% deployed in December 2019. It invests in companies with enterprise values of £20-75m.

In 2019, the company completed its first acquisition of personal lines insurer Aaran Insurances and has also invested more than £10m in the last four years to support its growth plans, according to a statement.

Livingbridge has previously invested in insurance brokers such as Jensten and Kingsbridge. This is also the second investment Livingbridge has made in Ireland in June 2020, acquiring TitanHQ earlier this month.

Financing was provided by private debt fund Pemberton. The firm is currently investing from its European Mid-Market Debt Fund II, which closed on €3.2bn and writes cheques of €25-100m.

Company
Headquartered in Dublin, where it employs almost 250 staff, Chill was founded in 2006. The company is a broker of personal lines insurance.

People
Livingbridge – Xavier Woodward (partner); Simon Peet (investment director); Tom Reece (investment executive).
Chill Insurance – Michael McLaughlin (CEO).

Advisers
Equity – Deloitte (financial due diligence); Travers Smith (legal); A&L Goodbody (legal); Oliver Wyman (commercial due diligence); PwC (financial due diligence); Intechnica (IT due diligence).
Company – KBW (corporate finance); Flynn O'Driscoll (legal); LEK (commercial due diligence); KPMG (financial due diligence); Capnua & Twomey Moran (tax).