Jamieson has advised the management team of Premium Credit Limited, which has been acquired by a Newco backed by Cinven Partners LLP for an enterprise value of £462 million.
Premium Credit is the No.1 Insurance Premium Finance Company in the UK and Ireland enabling businesses and individuals to spread the cost of their insurance premiums and other essential purchases. It also provides financing for the payment of annual fees such as accountancy fees and school fees. In 2013, the Company achieved advances of £3.7 billion, processing 25 million Direct Debits. Premium Credit has approximately 2 million customers and works with 4,000 intermediaries across their chosen markets.
Jamieson advised Andrew Doman (CEO) and his management team on the terms of their reinvestment alongside Cinven.