Acturis
Acquired by Astorg 2019
"With Summit’s help, we executed our first international acquisition in only 30 days, start to finish. The Summit team jumped in to help on detailed work around legals and structuring, and were available day and night. We could not have delivered the deal without their help."
User base growth, expanding to 20,000 users during Summit’s investment
Employees added, growing from 200 employees at time of Summit’s investment
Countries served; Significantly increased international sales to serve customers in 40+ countries
Astorg acquires minority shareholding position
User base growth, expanding to 20,000 users during Summit’s investment
Employees added, growing from 200 employees at time of Summit’s investment
Countries served; Significantly increased international sales to serve customers in 40+ countries
Astorg acquires minority shareholding position
Theo Duchen and David McDonald founded Acturis with the goal of driving inefficiencies out of the insurance sector by focusing on technology and process innovation. Leveraging their backgrounds in the insurance and ecommerce practices at McKinsey, the founders successfully bootstrapped Acturis to become the leading SaaS-based insurance technology provider in Europe. The founders sought an experienced partner to help internationalize the business.
How Summit Partners Helped
- Led a minority investment for growth and shareholder liquidity
- Assisted with the development of robust financial and KPI reporting
- Helped develop and execute international expansion strategy, completing four acquisitions outside of the U.K.
- Identified, evaluated and developed more than 20 acquisition and partnership opportunities outside the core U.K. market
- Worked closely with management to complete the acquisition of Nordic Insurance Software—the company’s first international acquisition—assisting with negotiations, diligence, legal work and structuring
Acturis continued on a strong growth trajectory throughout Summit’s investment, entering international markets through organic growth and acquisition, and earning recognition throughout the industry both for its rapid growth and for its innovative solutions. The company was named to the UK’s Future Fifty list in 2013, won the Queen’s Award for Enterprise in 2012 and has been recognized multiple times as Service Provider of the Year by Insurance Times. In 2019, Astorg acquired a minority shareholding position in Acturis, with Summit existing its position.
The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since Acturis is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is not an investor in a Summit fund but may have conflicts arising from his past role with Acturis due to the company’s relationship with Summit.
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