By Andrei Skvarsky.
London-based private debt company Permira Debt Managers (PDM) has acted as the sole senior secured lender to support partnership between two British companies, private equity firm Inflexion and insurance broker Bollington Wilson, which was bought out by Inflexion several months ago.
The loan came from one of PDM’s funds, Permira Credit Solutions III (PCS3), PDM said in a statement.
Bollington Wilson was created by Inflexion’s double buyout and immediate merger of two brokerages based in northwestern England – Bollington Insurance Brokers and Wilsons Insurance Brokers.
Bollington Wilson employs more than 400 staff across six offices. It specialises in niche markets of personal and commercial insurance and has more than 140,000 clients, earning a gross annual underwritten premium of more than 130m pounds (about $167m).
PDM is a debt investor that has put more than 6bn euros (about $7bn) into more than 120 businesses in 12 European countries since it was founded in 2007.
PDM has offices in Guernsey, Luxembourg and Menlo Park, California, besides its London headquarters.
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