Hood Group, a leading insurance solutions provider, has recently completed a Management Buy-Out (MBO) with the support of Connection Capital, a private equity and alternative investment platform. This exciting development sees the Group’s management team, including CEO Simon Hood, Commercial Director Bruce Reid, Chief Operating Officer James Wallis, Travel Director Mark Izzard, and Non-Executive Chair Andy Homer, take full control of the company by buying out its silent shareholders. The team is also joined by the existing Associate Directors.
The MBO has provided significant capital to support the Group’s growth plans, including investments in the Direct and B2B insurance distribution business, pursuit of new and existing verticals, and strengthening of other functions and resources. This will further enhance the Group’s ability to deliver exceptional customer experiences and outcomes, benefiting both its brand and insurer partners, as well as all customers.
Simon Hood, CEO of Hood Group, expressed his excitement about this milestone, stating, “This investment is a significant step for Hood Group. With the support of Connection Capital and their exceptional team, we are confident in our ability to accelerate our growth plans and continue providing market-leading insurance solutions to our partners and customers.”
Mark Snaith, Investment Director at Connection Capital, also shared his enthusiasm for the partnership, saying, “We have been thoroughly impressed by the management team at Hood Group and their expertise in navigating the ever-changing insurance market. We believe they are well-positioned to build on the company’s success and deliver exceptional value to their clients. Our investment, along with our experience with Tempcover and our strong connections within the insurance industry, will provide the necessary support to unlock new opportunities and drive the planned growth.”
This partnership between Hood Group and Connection Capital marks an exciting new chapter for the company, and both parties are committed to delivering exceptional results and creating value for all stakeholders. Stay tuned for more updates on Hood Group’s continued success and growth.