AnaCap reaps 4.5x on Simply Business exit to Aquiline

The deal values the company in the region of £120m, unquote" understands.

Under the GP's tenure, the company has grown organically, notably through investment in new product development.

The deal marks AnaCap's first divestment of 2016. Last year it sold its stake in loan provider Syscap to mutual financial services group Wesleyan, and partially divested Aldermore, an independent bank, which listed in March 2015 with a market cap of £650m.

The Simply Business deal is subject to FCA approval and is expected to complete this summer.

Previous funding
AnaCap backed the £50m MBO of Simply Business in July 2013, in a deal that saw the company's founder Brad Liebmann sell his 30% stake.

Company
Founded in 2005 and headquartered in London, Simply Business is an online insurance broker for SMEs.

The company has a headcount of 320 and generated revenues of £40m in the most recent financial year, up from £23m in the year prior to AnaCap's acquisition. According to Anacap, the company's EBITDA has "risen fivefold" under its tenure.

People
AnaCap – Tassilo Arnhold (investment director).
Simply Business – Jason Stockwood (CEO).

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