UK - Lyceum Capital acquires UKDN

The deal represents the private equity firm's second platform investment in recent weeks, following the £22m buyout of energy consultancy McKinnon & Clarke. HSBC has provided debt to support the UKDN transaction.

Headquartered in Solihull, UKDN is the largest drainage claims manager in the home insurance market. The company was formed by CEO Greg Beech in 2003 through the merger of five regionally-based independent firms. UKDN provides claims management, remediation, validation, investigation and repair services for the UK's largest household insurers from its nework of 11 depots. The business employs 270 people and has a turnover of £20m.

Lyceum intends to help the group broaden its capabilites through a consolidation strategy.

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