Inflexion and LDC fully exit National Accident Helpline for £27.8m

Each GP sold 6.2 million ordinary shares, equivalent to around a 15% stake, priced at 225 pence apiece.

The share price was 12.5% higher than the 200 pence pricing obtained when the business launched its IPO in May 2014.

NAHL listed with a market cap of £82.5m on the AIM segment of the London Stock Exchange. Inflexion generated a 3.7x return on its partial exit.

Investec acted in support of Inflexion and LDC in the transaction.

Previous funding
Inflexion acquired NAHL in October 2009 from previous backers LDC with money drawn from its 2006 fund. The deal was supported with debt from Clydesdale and Yorkshire Bank. Under Inflexion's stewardship, the company created its 'Underdog' marketing campaign, which drove a 50% increase in enquiry levels in 2013.

Company
Established in 1993 and based in Kettering, NAHL is a referral source for personal injury claims. The company generated revenues of £39.7m in 2013 with operating profit of £9.8m.

People
Simon Turner is managing partner at Inflexion. Russell Atkinson is CEO of NAHL.

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• Topics
• Exits
• UK / Ireland
• Financials
• United Kingdom
• Inflexion Private Equity
• LDC