Tempcover Limited has been acquired by Connection Capital LLC
The private shareholders of Tempcover Limited, the UK’s leading provider of easy-to-understand, direct-to-consumer, short-term motor insurance products, have sold the company to Connection Capital LLP for US$18 million.
Founded in 2006 by Alan Inskip, current CEO, Tempcover is an award-winning, information technology specialist providing temporary motor insurance online. Tempcover’s unique multi-carrier insurance offering enables customers to buy temporary motor insurance directly from the company’s website and select partners. Recently, the company has successfully launched additional temporary cover products to meet its growing customer base requirements.
With over US$200 million under management, Connection Capital provides a fully managed service whereby clients are free to choose, on a case-by-case basis, their own private equity, commercial property, alternative asset funds and structured debt solutions investments.
Oaklins Cavendish, based in the UK, advised the seller in this transaction.
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