Grant Thornton completes sale of VIPR Solutions to Tenzing and management

Legal | Mergers & Acquisitions | South West | Technology

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Business and financial adviser Grant Thornton UK LLP, has completed the sale of VIPR Solutions Ltd to Tenzing and management.

VIPR Ltd is a provider of sophisticated software solutions within the insurance industry. Its core solution automates bordereaux management, increasing accuracy, reliability and efficiency, and addressing regulatory requirements. This fast-growing company attracted the interest of Tenzing due to its attractive market niche in a global market. Tenzing is an independent private equity investor, focused on high growth businesses backing management teams with whom it shares a vision for future success and development.

Grant Thornton’s South regional offices, including Bristol and Thames Valley, supported the business to fully prepare to go to market, using a multi-disciplinary team across corporate finance, technology and tax.

The Grant Thornton team reviewed and filtered prior approaches and introduced key prospective trade and private equity acquirers. This resulted in a highly competitive, tightly controlled process. Despite the challenges of doing a deal during lockdown, it resulted in a premium valuation, reflecting the market leading position of the company.

Wendy Hart, Corporate Finance Partner at Grant Thornton UK LLP, led on the deal. She said: “Following a highly competitive process, Tenzing was selected as the preferred acquirer. VIPR is a great business with a great management team. It was a pleasure to support them in the next phase of their growth journey. We are confident the sale of VIPR to Tenzing is the right strategic fit. The resulting deal is testament to the strength of our team who, even in a pandemic, were devoted to securing the best outcome for our client.”

Richard Brown and Bob Brown, Founding Shareholders of VIPR Solutions Ltd, said: “Having built an exciting platform and arrived at an inflexion point in terms of scale, we felt that the next stage of its development would be accelerated under new ownership. Having handed day to day operational control to our experienced management team we were keen to de-risk our personal investment.

“We have been through this process before with other advisors but this time round the whole process seemed to run more efficiently and smoothly. Grant Thornton’s hands-on approach, deep experience of private equity, robust advice and commitment to the process helped to deliver an exceptional result. We were looking for a combination of insurance sector expertise, buyer reach and a trusted adviser relationship – and that’s exactly what Grant Thornton delivered.”

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