Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 22nd of May 2019
January 15, 2009

HPI Limited acquired by Solera

by David Masters

Story link: HPI Limited acquired by Solera

Solera Holdings has completed its £78.3 million acquisition of UK-based HPI Limited.

The deal included £67 million paid in cash, and £11.3 million paid in a subordinated note.

The subordinated note carries an 8% annual interest rate, and is payable in full on 31st December 2011.

An additional £4.8 million will be paid to HPI’s previous owner if the company reaches its performance targets.

HPI Limited – previously owned by RAC Group – provides HPI checks and vehicle validation services.

 

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