Brussels, 8 August 2022
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Premfina Limited (‘Premfina’) and i GO 4 Ltd. (‘iGO4′), both of the UK, by Madison Dearborn Partners, LLC (‘MDP’) and HPS Investment Partners, LLC (‘HPS’), both of the US.
Premfina provides premium financing as lender of record and white label insurance software solutions to insurance brokers in the UK. iGO4 provides car telematics insurance products to consumers in the UK. MDP is a private equity investment firm active across multiple industries. HPS is an investment firm managing various strategies across the capital structure, asset-based leasing and private equity. The Commission concluded that the proposed acquisition would raise no competition concerns given that Premfina and iGO4 have no, or negligible, current or foreseen activities within the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10805.
Source – EU Commission