We are delighted to have advised One Commercial Specialty Limited on their sale to Clear Group
OCS is a leading UK specialist Managing General Agent (MGA) in the growing Professional Indemnity and Directors & Officers insurance market. Prior to sale, it was a subsidiary of Bspoke Insurance Group Limited, which is majority owned by Rcapital Partners. Backed by Goldman Sachs, this transaction represents the Clear Group’s second MGA deal and is a continuation of its strategy to build a market leading MGA capability. OCS’ MGA expertise will sit alongside Clear’s retail broking business.
Ryan Gill, Chief Commercial Officer at Bspoke Group, said: “We’re pleased to have concluded this deal with the team at Clear Group. I’m confident they will be excellent custodians of One Commercial Specialty and we wish the team well for the future.”
Given the specialist nature of the OCS business, we focused on a select number of trade and Private Equity-backed trade parties who we felt were best placed to build upon the success and recent rapid growth, offer a strong cultural and strategic fit and ultimately pay a premium price for the business.
Using our in-depth sector experience and knowledge, we selected the most appropriate potential buyers and ran a tight and highly competitive process before selecting Clear as the preferred bidder and then led negotiations to a successful conclusion.
The Grant Thornton team provided excellent service, in-depth insight and support from start to finish. The process that they led delivered a deal that both optimised value for ourselves and found the right strategic home for the OCS business.Ryan Gill Chief Commercial Officer, Bspoke Insurance Group Limited