Cripps advises on sale of both Capulus and One Claim to SRG

Cripps successfully advised the sellers of Capulus, a specialist motor fleet Managing General Agent (MGA) based in Wales, on their sale of Capulus to MX Underwriting Limited, the underwriting arm of Specialist Risk Group (SRG).

Capulus is a highly regarded specialist in the motor fleet sector, with a strong reputation for delivering bespoke solutions and exceptional service to UK broker partners. This acquisition supplements SRG’s existing motor fleet underwriting expertise.

The Cripps insurance team was instructed on short notice in early August 2024 and secured exchange of contracts by early September, demonstrating the team’s agility, ability to work collaboratively and deliver with efficiency.

Following Cripps’ involvement in the successful sale of Capulus in September 2024, the team proceeded to complete the sale of One Claim, a complementary claims business, to SRG ahead of the Autumn budget.

One Claim has historically supported Capulus’ broking activities by providing end-to-end claims management services. This strategic transaction aligned well with the interests of all parties involved.

With Cripps’ assistance – including guidance on the pre-completion buy-out of a joint venture party – the parties were able to achieve swift completion before the Autumn Budget.

Lowri Jones, insurance M&A partner at Cripps, commented: “It was a pleasure to collaborate with Darren and Kevin alongside the SRG advisory team on the sale of both Capulus and One Claim. These transactions highlight the ability of the Cripps insurance team to leverage its sector expertise at short notice to deliver complex sector-specific transactions at pace.”

Capulus Directors, Darren Ovenden and Kevin Smith, remarked:

“I honestly don’t think we’d have got the deals done in the timeframes…and so big thanks to your team.”

In completing the above transactions, Cripps worked alongside MarshBerry, Bevan Buckland, and Parisi Tax.

The Cripps M&A Insurance team included Lowri Jones, Laura Wilson, Jade Hallam and Abigail Kirk.