TowerBrook to acquire Premium Credit from Cinven.

TowerBrook Capital Partners, the London and New York-based international investment firm, agreed to acquire Premium Credit, a provider of premium finance for commercial and retail insurance products, from Cinven, a private equity firm. Financial terms were not disclosed. "After a successful period under Cinven’s ownership, we are delighted to have the opportunity to partner with TowerBrook in the years ahead. TowerBrook has an impressive history of investing in financial services companies, is a leader in responsible ownership, and has a dual capability of an investment team and internal Portfolio Group to help us create value. It is clear from our discussions over recent months that they will bring significant expertise to help Premium Credit go from strength to strength. We look forward to working closely with them to realise our shared ambitions for the business," Tara Waite, Premium Credit CEO.