Elysian Capital picks up majority stake in Activate Group

Activate is an accident management service provider.

  • This is the seventh investment via Elysian Capital III fund
  • James Cunningham, partner at Elysian, to join Activate’s board as chairman
  • Elysian buys majority stakes in businesses valued between £20m and £100m

Elysian Capital has acquired a majority stake in Activate Group, an accident management service provider.

Activate provides services to insurance groups and corporate fleet operators through its MRN and Sopp+Sopp brands. It is based in Halifax, London.

This is the seventh investment via Elysian Capital III fund, which closed in September 2020 at £325 million ($411.7 million; €379.9 million).

“Since 2015, Activate has created a strong proposition in the claims and repair market and we are excited to be working with Hannah and the rest of the team to realise the business’ full potential through additional sites, enhanced technology and new services,” said Mark Puttick, partner at Elysian Capital.

James Cunningham, partner at Elysian, will join Activate Group board as chairman. Hannah Wilcox will continue to lead Activate as CEO.

The deal will see the existing management team remain in place to develop the business’ owned technology and repair capacity, as well as investing in its people and culture, according to a release.

Elysian buys majority stakes in businesses valued between £20 million and £100 million. It is based in London.

No financial details of the transaction were disclosed.

Elysian Capital was advised by Squire Patton Boggs (legal), 8Advisory (financial due diligence and tax), Oliver Wyman (commercial due diligence), Aon (Insurance), Ringstone (IT), CBRE (property) and Strategic Awareness (management due diligence). Working Capital Facilities were provided by Barclays.