VIPR is a market-leading provider of niche software solutions within the insurance industry. Their core solution automates bordereaux management, increasing accuracy, reliability and efficiency, and addressing regulatory requirements. VIPR software is distinguished by its reporting functionality. Increasing demand for automation within the insurance industry is driving VIPRs exciting growth.
The founders of VIPR Limited, having built an exciting platform and at an inflexion point in terms of scale, felt that the next stage of its development would be accelerated under new ownership. Having handed day to day operational control to their experienced management team they were keen to de-risk their personal investment.
Given significant unsolicited interest in VIPR, we approached both trade parties and private equity. Following a highly competitive process, Tenzing were selected as the preferred acquirer. The deal was closed within six weeks of signing heads of terms.
Our team supported the business to fully prepare to go to market. They filtered prior approaches and introduced key prospective trade and private equity acquirers. This resulted in a highly competitive and 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, to the delight of the vendors.
We have been through this process before with other advisors and we have to say that this time round the whole process seemed to run much more efficiently and smoothly, thanks to the hard work of the Grant Thornton team. Their hands-on approach, deep experience of private equity, robust advice and commitment to the process helped to deliver an exceptional result.
Richard and Robert Brown Founding Shareholders, VIPR Limited
