Alchemy Partners, a Private Equity group, acquired Cathedral Capital
Cathedral Capital PLC was the UK based holding Company of insurance group Cathedral Underwriting.
Alchemy Partners acquired the entire issued share capital of Cathedral Capital for £113m and the business was ultimately sold at a premium.
Cathedral Capital was subsequently sold to London-listed Bermudian insurance group, Lancashire Holdings, for £266m.
The sale represented a P/NTAV ratio of 1.6x.