The Jensten Group in debt-raise to continue its buy-and-build strategy
Arrowpoint Advisory’s Debt Advisory team has advised The Jensten Group on raising additional financing from LGT to support their buy-and-build strategy.
The Jensten Group was formed in 2018 following a management buy-out of Coversure Insurance Services Group (CISG) backed by Livingbridge. Since then, the business has delivered significant growth, including completing four acquisitions in the last nine months.
The business’s origins date back to 1986 when Coversure was established to provide communities with a good value, high quality local insurance broking service. Jensten’s insurance broking offering now includes over 90 Coversure franchises, focused mainly on the small commercial insurance market and a rapidly growing wholly owned broking operation primarily focused on mid-market business. The group also has a leading underwriting and London Market operation comprising Policyfast, City Underwriters and Senior Wright, all supported by an in-house platform development business, Jensten Technologies.
Ed Hannan, Group CFO at The Jensten Group, said: “We’re delighted with the significant increase in acquisition funding we have secured, and we’re grateful for LGT’s continued support. Arrowpoint Advisory provided us with excellent advice and support at every stage of the process. They understand our business and our sector very well, and as a result we now have a strong financing package in place to deliver the next stage of our strategy.”
Simon Peet, Investment Director at Livingbridge, commented: “We’d like to thank Neil, Ale and the Arrowpoint Advisory team for the great work they have done supporting Jensten through the latest expansion of its facilities. This will enable Jensten to continue its M&A ambitions and build itself into a leader within the sector.”
Alessandro Brembati, Assistant Director at Arrowpoint Advisory, added: “It was a pleasure working with Ed, Simon and the LGT team. The deal provides the company with significant new funds and flexibility to continue their build-&-build strategy.”
Neil Smith, Managing Director at Arrowpoint Advisory, concluded: “Jensten is an exceptional business and a slick and proven industry consolidator. We would like to thank LGT for their flexible and commercial approach throughout.”