• Region: Europe
  • Sector: Financial Services
  • Investment Year: 2014
  • Transaction Value: £240m

Realised

Sabre Insurance Group is a specialist UK private motor insurer with expertise in non-standard motor insurance that was acquired by BCEC IX in 2014. The company has has an established track record of market leading underwriting performance and a broad underwriting footprint and multi-channel distribution through a network of c. 1,000 intermediaries (indirect) and through its own three Direct Brands - Go Girl, Drive Smart and Insure 2 Drive.

Investment Thesis

  • Best-in-class motor insurer with market leading loss ratio and profitability across the UK motor insurance industry.

  • Excellence in non-standard risks with hard to replicate underwriting approach.

  • Track record of policy growth without compromising profitability and the highly cash generative business model.

  • Significant growth potential in direct brands with direct brands increasing rapidly during BC Partners' ownership to c. 30% of policies.

  • Founders successfully transitioned to non-executive roles with strong independent management team and board in place before IPO.

In December 2017, Sabre successfully completed an Initial Public Offering (“IPO”) on the London Stock Exchange (Ticker: SBRE) and after a number of secondary sales BCEC IX fully exited its investment in Sabre in September 2018.

Team Involved

The case studies are presented herein for illustrative purposes only and should not be relied upon for investment decision making. This information is being furnished for the sole purpose of providing information about BC Partners. The specific investments identified are not representative of all of the companies purchased, sold or recommended for BC Partners' private equity funds, and it should not be assumed that investments identified were or will be profitable or are representative of investments that will be made by BC Partners in the future. Unless otherwise indicated, information with respect to the investments included herein has been obtained from the relevant portfolio company. Past performance of any BC Partners-sponsored fund, vehicle, account, or investment is not indicative of future performance. There can be no assurance that BC Partners will make comparable or equally successful investments in the future. For a list of all investments made by the private equity funds managed by BC Partners since its inception, please click here.