3i invest £50 million in Hyperion

by David Masters

Story link: 3i invest £50 million in Hyperion

Private equity firm 3i have purchased a minority stake of Hyperion in a deal understood to be worth £50 million.

The purchase values insurance group Hyperion at over £120 million. Hyperion, founded in 1994, is currently achieving annual growth rates of 40%. It has offices in Europe, the Middle East, Australia, and America, and clientèle in over 50 countries.

3i says that it is supporting the insurance group’s next phase of growth, in which Hyperion plans to expand its product range and the number of locations in which it offers services.

Over the last 18 months 3i have purchased stakes in a number of financial companies, including Fulcrum, Gain Capital, KNEIP, ACR and BestInvest.

David Howden, chief executive and founder of Hyperion, said: “In choosing 3i as our partner, it was important to us that they embraced the entrepreneurial spirit of our group and shared our ambition to build a world-beating specialist insurance business.

“3i’s long established brand, global network and considerable management expertise, combined with its financial strength, will help us to achieve a faster pace of international growth.”

3i’s director, Gordon Hague, said: “We at 3i Growth Capital are thrilled to be backing Hyperion: a global success story and a leader in the specialist insurance sector.

“This is an outstanding management team and we have been impressed with the quality of people at every level.”