Kester Capital announces sale of Ironshore
23 November 2015
Kester Capital is pleased to announce the sale of Ironshore to Fosun International Limited.
During Kester Capital's investment period, Ironshore built a diversified, global speciality insurance platform with a deep management team. Ironshore's focus on longer-tail liability coverage created a substantial amount of cash float income, which was deployed into the investment portfolio over time. As a result, Ironshore presented an attractive, scalable platform for a strategic acquirer.
Kester Capital originally made its investment in Ironshore in Spring 2007. The exit is the fourth from Kester Capital’s first fund and generated a 2.1x money multiple.
About Kester Capital:
Kester Capital is a mid-market UK private equity firm investing in businesses with an enterprise value of £10-50 million. It was established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co.
For further enquiries please contact:
Cameron Crockett or Adam Maidment
Kester Capital LLP
+44 (0)20 3747 5700