Media & Insight

Pemberton supports Livingbridge’s acquisition of Chill Insurance

Pemberton, the asset manager backed by one of Europe's largest insurers, Legal & General Group PLC, has supported Livingbridge’s acquisition of Chill Insurance.

Founded in 2006 and headquartered in Dublin, Chill Insurance is the leading independent personal lines (motor and home) insurance distribution and comparison company in Ireland. The company has a strong brand and multi-channel distribution model, with an increasing share of transactions completing on-line. It holds a unique position in the Irish insurance market as the only broker of scale that provides comprehensive market coverage across a panel of 14 major insurers. Led by an entrepreneurial management team, Chill has delivered strong organic and acquisitive growth over recent years. The company employs 247 people across two sites based in Dublin.

All negotiations and conversations were successfully hosted remotely, post Covid-19 outbreak. The transaction marks a significant milestone for Pemberton as it is its first deal in Ireland, and its first deal working with Livingbridge.

Pemberton supported Livingbridge and Chill Insurance via its European Mid-Market Debt strategy.

Richard Meehan, Director - Origination, from Pemberton, said: “The deal marks a number of firsts for Pemberton, as we continue to expand our footprint across Europe whilst navigating the challenges presented by the current environment. Chill represents our first investment in Ireland, and an opportunity to support a resilient, market leading business, which is ideally positioned to benefit as the Irish market increasingly transacts on-line. We are also delighted to partner with Livingbridge, a leading UK sponsor and hope Chill Insurance represents the first of many deals together.”

Simon Peet at Livingbridge, said: “We are delighted to have been supported on our investment in Chill by Pemberton. Through the process they have been straightforward and supportive to deal with and we look forward to working with them going forward, in particular as the business looks to accelerate its M&A strategy.”

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