Mature Poacher Buys Out Deloitte as M&A Leader

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InsurTech 50 firm Ripe has named a key Deloitte employee as head of mergers and acquisitions.

Jamie Richards will lead acquisition strategy at the Manchester-based firm, which was backed in late 2021 and early 2022 by London and New York-based private equity firm Aquiline Capital Partners.

Ripe, which has been growing revenues for 15 years and made its first acquisition in Craftinsure last year, aims to continue its growth through targeted acquisitions in commercial and specialist personal lines.

Richards worked at Deloitte for a decade as a senior member of the M&A team in the Financial Institutions Group and has extensive transaction experience with a range of clients, including founder-led businesses, private equity funds, global insurers and intermediaries.

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“Ripe has a truly unique and exciting proposition that attracted me to this new role after 10 years at Deloitte,” said Richards. “I am excited to join the firm at this time and be part of its ambitious growth plans.

“I will immediately begin working on mergers and acquisitions where Ripe can add significant value to acquired businesses, particularly through its marketing capabilities and proprietary technology platform.”

Ripe CEO Paul Williams added: “Following our initial acquisition of Craftinsure last year, this appointment reflects the importance of M&A in our future expansion plans.

“The investment from Aquiline Capital Partners in 2022 gives Ripe the strength to power the next phase of our growth, which will now be strengthened by our new Head of M&A.

“Jamie’s experience and profile will enable us to unlock new opportunities. We have a clear strategy – identifying high-quality businesses with existing specialisms that could benefit from our unique technology and digital marketing expertise to accelerate growth.

“We will be focused and highly selective, so where we find the right fit, we can provide flexible deal structures and strong valuations for potential suppliers. Our doors are open.”

Dealmaker is optimistic about M&A activity in the remainder of 2024.