INNOVATION GROUP PLC
December 3, 2015 - Newton, MA
Morgan Partners, an independent investment bank serving the financial technology sector, today announced its role as co-advisor to British insurance technology and outsourcing company Innovation Group Plc on its sale to the successful bidder, The Carlyle Group (NASDAQ: CG). Morgan Partners worked closely with Investec Bank plc, the lead investment bank on the transaction. The take-private became effective on November 18, 2015 and valued Innovation Group’s equity at £491 million.
"The team at Morgan Partners is incredibly good at what they do," said Andy Roberts, Group Chief Executive Innovation Group. He added, "We are pleased with the outcome, and Morgan Partners’ efforts played a critical role in the success."
The transaction closed on November 18, 2015. Further information can be found here.
About Innovation Group Plc
The Innovation Group plc is a global provider of business process outsourcing and technology solutions to the insurance, fleet and automotive industries. For more information about Innovation Group, please visit the company’s website at http://www.innovation-group.com/uk.