BLP advises new client Misys plc on its £182m sale of Misys General Insurance to Montagu Private Equity
30 March 2006
Berwin Leighton Paisner LLP (BLP) acted for new client, Misys plc, on the sale of its general insurance broking systems business, Misys General Insurance (MGI) to a newly formed company managed by the existing MGI management team and backed by funds advised by Montagu Private Equity Limited for £181.9m. Part of the MGI business is regulated by the FSA and closing of the sale is therefore subject to the FSA’s consent to the change of control.
Misys is a global software product and solutions provider whose core focus is on banking and healthcare systems.
The BLP team was led by corporate partner John Bennett assisted by Fiona Johnston (corporate), Charles Goddard and Anna Cumming (tax), Catherine Cook and Peter Thomas (property), David Dennison (pensions and incentives) and Claire Bates (financial services).
Montagu Private Equity were advised by Linklaters with a team led by Raymond McKeeve.
Commenting on the deal, John Bennett said:
Misys is a global software product and solutions provider whose core focus is on banking and healthcare systems.
The BLP team was led by corporate partner John Bennett assisted by Fiona Johnston (corporate), Charles Goddard and Anna Cumming (tax), Catherine Cook and Peter Thomas (property), David Dennison (pensions and incentives) and Claire Bates (financial services).
Montagu Private Equity were advised by Linklaters with a team led by Raymond McKeeve.
Commenting on the deal, John Bennett said:
"We are delighted to have helped Misys get this transaction done in a very short timetable. This was our debut deal for Misys but it reflects the increasing deal flow that we are experiencing in the software and computer services sector ."
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