Global alternative asset manager, The Carlyle Group has signed an agreement to acquire French insurance software vendor Prima Solutions, in partnership with its management team.
The transaction is expected to close on September 30th, 2017, subject to approval from the relevant authorities. Carlyle Europe Technology Partners III, a €657m Carlyle fund focused on European technology, media and telecommunications (TMT) companies, will make the investment. Financial terms are not disclosed.
Prima Solutions is a French software vendor that designs, develops and markets software exclusively for insurance providers. Founded in 2000 by Hugues Delannoy, co-founder of the Assurland.com insurance comparison website, Prima Solutions offers modular digital applications to help insurance companies optimize customer relations and insurance policy management.
Headquartered in Paris, with a presence in European and international markets, Prima Solutions has 200 employees and has grown more than 80% per year since 2013, reaching turnover of more than €20 million in 2017. The company’s sales momentum and innovative products and services make it the natural choice for insurance providers facing a range of operational challenges, including the introduction of new distribution models and digital customer relationship platforms and the creation of innovative products. Prima Solutions’ customers include Allianz, AXA, MAIF, Société Générale, PSA Insurance and Hiscox.
Following this acquisition, Prima Solutions will continue to be led by the current leadership team, including Founder and President Hugues Delannoy, and CEO Rodolphe Peim.
Prima Solutions has built up a solid foundation for continued growth in Europe and internationally. In less than four years, the company has become a reference in its market in Western Europe. The management team has shown it can create strong and promising sales momentum and growth.
About Prima Solutions
Prima Solutions delivers the software platform Property and Casualty insurers need to gain in agility and succeed in a time of rapid industry change. Full web, modular, multilingual and available in SaaS mode, Prima Insure™ addresses the whole life cycle of an insurance policy: distribution; underwriting; contract; claims and financial management. More than 20 Property and Casualty insurers, including Allianz, AXA, Société Générale Insurance, PSA Insurance, CoverLife, Galian, Groupama, Hiscox, Mutuelle des Motards or Gras Savoye Willis, have already selected Prima Insure™. Prima Solutions is a member of ACORD.
About The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with USD170 billion of assets under management across 299 investment vehicles as of June 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.