CBPE buys stake in Compre

CBPE Capital has acquired a majority stake in independent re/insurance legacy specialist Compre from Milestone Capital Partners.

Compre, a specialist focused on  the acquisition and management of discontinued non-life re/insurance business, is headquartered in the UK and operates across Germany, Switzerland, the Nordics and the UK.

CBPE is backing the existing management team, led by Nick Steer, which will remain unchanged as a result of the investment and will include Will Bridger, Rhydian Williams, Charles Singh and Dr Hubertus Labes.

CBPE will look to invest additional equity to support the acquisition of new business either by way of acquiring further European insurance carriers or by way of portfolio transfers from re/insurers.

Mathew Hutchinson and Richard Thompson from CBPE will join the Compre Board.

Nick Steer, chief executive officer of Compre, said: “We are delighted to have secured the support of CBPE. Compre will have significantly increased firepower to grow and build its business in Europe. We are looking forward to working closely with the team at CBPE as Compre grows in the future.”

Hutchinson added: “Compre operates in a complex but niche market which is set for consolidation. We have been impressed by the experience and expertise of the team and the track record of growth by acquisition.

We believe that CBPE is well placed to support the team and the business over the coming years as they acquire more legacy business in Europe and beyond.”