CMS advises August Equity on investment in Starpeak
CMS has advised August Equity, a leading UK lower-mid-market private equity investor, on its investment in Starpeak, a specialist digital distributor of insurance serving niche SME and personal lines markets. The transaction marks August’s first move into UK insurance services.
Starpeak is a technology-enabled managing general agent (MGA) operating across multiple brands including Protectivity and SportsCover Direct, the business delivers tailored insurance products to more than 175,000 UK customers each year.
August’s investment will support Starpeak’s continued development, including further investment of its proprietary technology platform, iTraps. The platform enables rapid product development, largely automated underwriting and efficient direct-to-customer distribution, supporting the rollout of personalised insurance products across underserved niche markets. Starpeak also plans to assess acquisition opportunities as part of its wider growth strategy.
Narinder Jugpal, CMS Partner and Co-Head of the CMS International Private Equity Group, said: “We are pleased to have supported August Equity on this important investment in Starpeak, which reflects continued private equity interest in specialist, technology-enabled financial services businesses. The transaction drew on CMS's private equity and financial services expertise, and is another example of our ability to support clients on investments in highly regulated sectors. We look forward to seeing August and Starpeak build on the business’s strong platform and ambitious growth strategy.”
The CMS team was led by Narinder Jugpal, and included Karl Williams, Jack Mallory and Olivia Burn (Private Equity); Sarah Brook, Mathew Hainsworth and Mira Lungu (Financial Services); and Jason Todd and Alexander Oldland (Tax).
With over 400 private equity, corporate, tax and finance lawyers, the CMS Private Equity team is one of the most active in Europe. The team advises clients on all stages of the investment lifecycle, from fund formation and investment structuring through to platform acquisitions, bolt-on transactions, portfolio management and exit.
