At least one other private equity firm bidding for minority stake
Towergate is in talks with Advent International and at least one other private equity firm about selling a minority stake in the consolidator, Insurance Times understands.
As previously reported, Towergate has signed a preliminary agreement with a private equity house which, if successful, will hand the firm a minority stake in the business in the first quarter of this year.
Insurance Times can now reveal that at least one other private equity house is also competing for a deal.
Advent International is understood to be in the running. Chairman Peter Cullum has a close relationship with the business.
Click here to read the full story from this week's issue of Insurance Times.
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Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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