Hines acted as exclusive financial advisor to Prestige Insurance Holdings Limited (“Prestige”) in relation to the sale of a majority stake to Capital Z Partners Management, LLC (“Capital Z”). Based on a long-standing relationship with Prestige’s founder George Storey and the management team, Hines managed an accelerated sale to a leading US private equity investor with considerable experience in the UK insurance market and clear plans to support Prestige’s continued growth and development.
The transaction, for an undisclosed sum, will mean Capital Z will acquire the shares of a number of retiring shareholders of Prestige. Under the proposed deal, Mr Storey and the existing management team will retain a significant minority stake in the business and remain on the Board.
Hines Associates Limited acted as exclusive financial advisor to Prestige.