The move will see previous backer Palatine exit the fast-growing private medical insurance broking business in which it invested in 2013.

Since then Chase Templeton has enjoyed rapid growth as it pursued a “buy and build” strategy which saw it complete over 75 acquisitions and grow its in force annual premium income from approximately £90m to £150m in just four years.

Nevada Investments will support an extension of that strategy which will see Chase Templeton continue to acquire targets.

Palatine has been incredibly supportive and promoted the extraordinary growth from which we’ve benefited since 2013

commented Chase Templeton’s chief executive officer, Warren Dickson.

“We’re making a step change now with backers who can help us explore bigger deals. Given its leading position in the worldwide investment community and expertise in the insurance brokerage sector, Nevada is the ideal partner to help drive the business forward.”

He added that the deal would not impact the business operationally. “For our staff and clients, it will very much be business as usual. This is all about making sure that, with the help of our new backers, we can identify and fully exploit future opportunities for growth, whether through acquisition or organically.”

Founded in 2002, Chase Templeton is already one of the UK’s leading private medical insurance specialists. It operates from headquarters in Darwen, Lancashire and offices in Bridgwater, Somerset


About Nevada Investments

Nevada is an investment vehicle controlled by HPS Investment Partners and Madison Dearborn Partners, established in November 2015. It owns the majority of shares in Autonet, Broker Network and Price Forbes.

HPS Investment Partners, LLC is a global credit and private investment platform established in 2007 and headquartered in New York with 10 additional offices globally (Includes office of affiliates of HPS-managed funds). As of April 1, 2017, HPS has over $39 billion in assets under management.

Madison Dearborn Partners (MDP), based in Chicago, is a leading private equity investment firm in the United States. Since MDP’s formation in 1992, the firm has raised seven funds with aggregate capital of approximately $23 billion and has completed approximately 130 investments.

Chase Templeton Limited is registered in England and Wales No. 3299980 – registered address: 5 Arkwright Court, Blackburn Interchange, Darwen, BB3 0FG. Towergate Underwriting Group Limited is registered in England and Wales No. 4043759 – registered address: Towergate House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN.  VAT Registration No: 447284724.