Canada Pension Plan Investment Board (CPPIB) has agreed to acquire 30% stake in BGL Group, a digital distributor of insurance and household financial services, in a deal valued at £675m.

BGL Group operates as a digital distributor of insurance and household financial services, and owns brands including comparethemarket.com, LesFurets.com and online life insurer BeagleStreet.com.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

As a result of this investment, CPPIB will nominate a non-executive director to represent it on the board of BGL.

Commenting on the deal, CPPIB managing director and head of direct private equity Ryan Selwood said: “Through this investment in BGL Group, CPPIB will participate in the continued growth of a leading financial technology business serving the UK consumer insurance distribution market, which provides greater transparency and choice to consumers.

“We are very pleased to create this partnership with BHL in a dynamic, high-growth sector to further support the success of BGL’s iconic brands, including comparethemarket.com, which will further diversify our portfolio.

“This investment alongside a world class, aligned partner in BHL is a great example of our Private Equity Solutions strategy, where we provide capital solutions at scale to families, like-minded investors, corporations, funds and entrepreneurs, to pursue sizeable investments with an option to hold long term, ultimately delivering strong risk-adjusted returns to CPP contributors and beneficiaries.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Subject to customary closing conditions including regulatory approvals, the transaction is scheduled to be completed by the end of April 2018.