PE Deals

Rcapital and Montague snap up Primary Group’s PPL and UK General

Rcapital has acquired a majority stake and Montague has taken a minority stake under the terms of the deal.

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  • UK General is a personal lines, managing general agent and underwriting firm 
  • PPL is a specialist support function for authorised insurance agents or brokers
  • The deal is part of Montague’s commercial strategy to build in-house specialty MGAs

Rcapital and Montague Risk Partners announced they have bought UK General and Precision Partnership (PPL) from Primary Group. Under the terms of the deal, Rcapital has bought a majority stake and Montague has taken a minority stake. The deal forms part of Montague’s commercial strategy to build in-house specialty managing general agents (MGA).

UK General is a personal lines, MGA and underwriting firm headquartered in Leeds. The company employs over 50 people and underwrites a range of personal lines schemes including property, leisure and lifestyle. PPL, also Leeds-based, is a support function for authorised insurance agents or brokers that employs over 80 people.

“These businesses have huge potential, bringing them together under our ownership will enable the combined personal and commercial lines business to scale up significantly and build on a business already controlling in excess of £100m GWP and employing 140 people,” said Chris Campbell, head of investments, Rcapital.

RCapital is a London-based private equity firm that invests in UK mid-market companies with £10 million to £150 million in turnover.

Montague is a digital specialty MGA based in Cobham, England.