Accelerant Holdings, the parent company of a technology and data-driven insurance risk exchange, has acquired Kinnell Holdings Ltd. and its six subsidiaries to better meet the needs of niche small and mid-sized enterprises insureds in the United Kingdom. Kinnell is an insurance group that primarily serves the building and remedial treatment industries, focused on the provision of home improvement consumer protection, including both deposit and post-completion warranty protection.
“We are pleased to have completed the acquisition of Kinnell Holdings, which marks an important step forward in our efforts to enhance our network and offerings,” said Jeff Radke, CEO of Accelerant. “By expanding our portfolio with Kinnell’s capabilities, we will be better able to serve our Members and their customers through their full lifecycle. The acquisition of Kinnell enables Accelerant to have additional capacity to serve our Members platforming the UK. We look forward to working closely with Andy and the rest of the Kinnell team as we continue to grow our offerings and coverage in the UK.”
“This transaction is a testament to the transformation our company has undergone in the last 22 years, as we have evolved from a small-scale administration company to a conglomerate of specialty businesses providing a full range of products and services to association and corporate clients,” said Andy Page, CEO of Kinnell Holdings. “We are pleased to have found a partner that shares our commitment to providing the highest possible quality service, and we look forward to the ample growth opportunities ahead for our company as part of the Accelerant portfolio.”
“We are making significant progress toward building the premier, vertically-integrated platform, and with this transaction, Accelerant is even better positioned to continue its growth globally,” added Sam Gaynor, managing director of Altamont Capital Partners, Accelerant’s primary capital sponsor. “The acquisition of Kinnell, and more specifically GPI, will be integral to Accelerant’s continued efforts to expand its offerings and build a global network of insurance companies that are leveraging technology and data analytics in a way that is not currently done in the industry.”