• June 27, 2022

The Clear Group completes new investment from Goldman Sachs Asset Management

Following a successful four-year partnership with ECI Partners, Goldman Sachs acquires a stake in the Clear Group, subject to FCA approval. This will drive the next phase of its growth strategy.

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Clear continues to unlock its growth potential through private equity investment

Through its partnership with ECI, the Clear Group has grown and diversified substantially and now employs more than 600 insurance professionals across 15 locations. The business has also trebled its premiums, today handling over £330m GWP.

Goldman Sachs' investment in Clear will enable the business to continue to pursue its growth strategy, including extending its reach into new markets through the targeted acquisition of high-quality, well-managed brokers. This will also allow the Group to drive further investment in innovation, technology and people to deliver more insurance solutions and services for our clients.

The Group's leadership focuses on the growth opportunities that this exciting new investment presents

Led by Group CEO Mike Edgeley and founder and Executive Chairman Howard Lickens, Clear's leadership team will steer the business through the next stage of its expansion.

Mike Edgeley said, "This deal signals confidence in our business, our strategy, our ambition and in the long-term direction of the market sector in which we operate. It's a real endorsement that Goldman Sachs has seen the value in our company and is keen to back us as we put the next phase of our strategy into action. I'd like to take this opportunity to thank the ECI team for the support they have given us during our partnership, enabling us to treble the size of our business."

Howard Lickens said, "It has been a pleasure to work with ECI during the last four years, which have been transformative for Clear, and we are well positioned for future growth in this new partnership with Goldman Sachs. They are an experienced investor within insurance and will allow us to continue to deliver our M&A strategy and provide more clients with the levels of service we're known for."

Paul McCreadie, Partner at ECI Partners, comments, "Clear Group is a fantastic business with a distinctive culture that make it a standout in the commercial broker market. It's been a pleasure working with Mike, Howard, and the whole Clear team during our partnership and we look forward to watching them continue their growth trajectory with their new investor. We'd like to thank them for all their hard work and wish them all the success for the future."

Michele Titi-Cappelli, Head of EMEA Financial Services Private Equity, and Mihir Lal, Managing Director, within Goldman Sachs Asset Management, commented, “We are excited to invest in Clear Group and partner with the Management team, led by Mike Edgeley. Clear Group has a strong reputation in the market and a track record of partnering with like-minded brokers. We look forward to leveraging our extensive track record of investing in insurance and financial services businesses, and the Goldman Sachs Value Accelerator’s operating, sector, and digital experts, to support the team in the next phase of growth, whilst maintaining Clear Group’s unique culture and value proposition.”

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