Kirkland & Ellis represented GTCR, a leading private equity firm, which announced today it has signed a definitive agreement to sell Premium Credit Limited (PCL) to Cinven Partners LLP for £462 million. Premium Credit Limited is the leading insurance premium finance company in the United Kingdom and Ireland. GTCR partnered with new CEO Andrew Doman to acquire PCL in October 2012 from MBNA Europe Limited, a subsidiary of Bank of America Corporation (NYSE: BAC). More information on the transaction is available here.
The Kirkland team is led by corporate partners Gavin Gordon and Stephen Ritchie, with corporate associates Aprajita Dhundia and Adam Runcorn, capital markets partner William Burke, and tax partners Ian Taplin, Oliver Currall, William Welke and Mike Carew.