Palatine invests in Chase Templeton

Anneken Tappe
04 February 2013

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Palatine Private Equity has invested in British private medical insurance broker Chase Templeton.

Equity for the transaction was sourced from Palatine's second fund, which is said to have raised £125m to date. Palatine declined to comment on the fundraising process.

The transaction was initiated by Mark Dawson of Shoosmiths. HSBC provided working capital, as well as a senior loan.

Company
Chase Templeton is a British private medical insurance broker with operations in Blackburn and Bridgewater. The company was founded in 2002 by Kevin Amphlett, now chairman, and employs 50 people. Over the past few years, the company has completed 10 strategic acquisitions. Chase Templeton forecasts revenues of £12m for 2013.

People
Partner Ed Fazakerley led the deal on behalf of Palatine. Julien Andrew worked on the debt package for HSBC.

Advisers
Equity – Gateley, Mark Halliwell, Rebecca Grisewood (Legal); Ernst & Young, Richard Harding (Financial due diligence, tax); Rennison Consulting (Commercial due diligence); The Quinn Partnership (Management due diligence).
Company – DTE Corporate Finance, Matt Beckley (Corporate finance); Shoosmiths, Mark Dawson, Karen Procter, Alex Lilley (Legal).