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Acquisition Opportunity

Hilco Streambank is seeking offers to acquire the business and assets of Project Sapphire, a multi-national insurance agency operating within the travel insurance market that manages tens of millions of pounds worth of insurance premiums.

BID DEADLINE

May 7, 2021 @ 12pm BST

Project Sapphire (or the “Company”) is a multinational end-to-end insurance solutions provider to the Financial Services, Broker and Card payments sectors.

The Company is part of a Group which operates across the UK and Ireland. Having grown through acquisition, the Company operates across the entire travel insurance value chain, encompassing insurance broking, service, technology, distribution and risk. With over a decade of trading history, the Company enjoys an excellent reputation in the market for the provision of innovative travel insurance products, high quality service standards, and on time delivery. Its products are tailored to today’s travellers, with an emphasis placed on those needing medical protection due to pre-existing condition.

To conduct its business the Company utilises a suite of assets, modern technology solutions, and risk management tools, which include two bespoke and proprietary software packages for managing medical risk and real-time analysis, developed by insurance experts in collaboration with medical experts and medical charities.

Annually the Company works with some of the world’s largest banks, insurance companies, leisure companies and airlines. It manages tens of millions of pounds worth of insurance premiums and employs around 50 staff.

For the FY2019 and FY2018, the Company generated revenues in the seven figures. It holds shares in six subsidiary companies which form part of the value chain through which it provides its services.

The sale presents a unique opportunity for a trade party or investor to quickly establish a foothold within the travel insurance sector prior to the sector’s recovery, armed with a first-class network of contacts and suite of bespoke software platforms.

Available Assets

Goodwill in Brands

The Company has generated goodwill in a number of B2B and B2C brands, which we understand boast an excellent reputation in the market for innovation, service, and on time delivery.

Subsidiary Entities

The Company holds shares in six subsidiary companies which comprise the value chain through which it provides its services.

Bespoke Software

The Company has developed two proprietary software systems to manage medical risk and conduct real-time understanding, and forecasting, of risk performance. This capability is unique in the marketplace in that it allows detailed analysis of portfolio performance on an almost real time basis.

Website Platforms

The Company’s brand have accompanying websites offering varying levels of user interaction and buying capabilities depending on service line.

Domain Names

The Company holds rights in a portfolio of domain names associated with its brands and websites.

Organisational Knowledge

The Company holds documentation, materials, and organisational knowledge in support of its working practises, products, and services, which management advise as being critical to the running of the business.

Plant & Machinery

The Company owns assorted office equipment, such as laptops, phones, and office furniture.

A buyer may wish to preserve value through the retention of employees at the Company. Detailed information and access to a virtual data room is available under NDA.

Sale Process

All expressions of interest and bids are to be directed to Hilco Streambank in writing. A Bid Submission Form is available on request. Please contact Hilco Streambank to gain access to a virtual data room of further information on signing of a confidentiality agreement.

Key Terms & Conditions

The bidder acknowledges that Hilco acts as an agent for the Company who offers for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. Hilco has not verified the information provided, and bidders are deemed to have carried out their own due diligence.

VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank's full Terms and Conditions apply. 

Contact Us

For further information about the sales process please contact the following Hilco Streambank representatives:

Interested Parties

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