M&A advisory

VIPR

Adviser to Tenzing on their investment into insurance software technology provider, VIPR.

The deal

Our Corporate Finance team has successfully advised Tenzing on its investment into VIPR, a market leading provider of insurance software technology.

VIPR was established in 2009 by Bob and Rick Brown after the brothers noticed that insurance industry reports, which contain key policy information, varied hugely in quality. Increasing regulation was forcing greater discipline and scrutiny across the market, and Rick and Bob saw an opportunity. They believed that through standardising and validating the information contained in these reports, they could provide a critical service for their clients, which include insurers, brokers and managing general agents (the local operators who underwrite contracts on insurers’ behalf). VIPR’s products help these industry players to capture cost savings, improve data analysis and, ultimately, increase profitability.

Eleven years on, VIPR has grown from three to over 40 employees, and its market-leading insurance software continues to address ever-growing compliance and regulatory burdens. The business has delivered steady and consistent growth, with revenues growing at over 30% over the last 12 months.

The team acted as buy-side advisers to Tenzing, assisting with negotiations, project management, financial modelling, heads of terms, documentation reviews and completion process. The team worked alongside Osborne Clarke (legal), PwC (FDD) and Fairgrove Partners (CDD) to close this transaction.

“We were really impressed with the team. Their hard-working, can-do attitude was extremely helpful in driving the process and they were great at building and managing key stakeholder relationships. We look forward to working with them again.” John Messer, Investment Team at Tenzing.

“VIPR has all the characteristics we look for in a business, growing at over 30% over the last year, despite the challenges 2020 has presented. We’re excited to back Paul, Stewart and the wider VIPR team and look forward to helping maximise the company’s potential with the support of our Growth Team.” Christian Hamilton, Founder and Co-Managing Partner of Tenzing.

“VIPR is already well established as an expert provider of niche insurance software within the London market. We are thrilled that Tenzing has recognised our leading position. Their investment and partnership will assist us in continuing to grow our UK presence and expanding our international footprint.” Paul Templar, CEO at VIPR.

Deal summary

Sector:

Technology, Media and Telecoms (TMT)

Deal type:

Acquisition

Deal size:

Undisclosed

We were really impressed with the team. Their hard-working, can-do attitude was extremely helpful in driving the process and they were great at building and managing key stakeholder relationships. We look forward to working with them again John Messer Investment Director at Tenzing

Related team

Simon Davies

Simon Davies

  • Partner
  • Corporate Finance
  • Reading, London West End

James Mines

James Mines

  • Partner
  • Corporate Finance
  • Reading

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