International law firm Simmons & Simmons has advised European tech investor Tenzing and the management team of VIPR, a leading insurance-native platform, on Bridgepoint’s acquisition of a majority stake in VIPR.
VIPR provides technology solutions to the global insurance market, supporting MGAs, brokers, insurers and reinsurers with data management and reporting. Tenzing acquired VIPR in 2020 and has since supported its product development, AI integration and international expansion, globally.
On exiting VIPR, Tenzing has announced that it has generated a return of 4.6x on its investment. The new investment from Bridgepoint, one of the world’s leading mid-market investors, will support VIPR’s next phase of global expansion.
The transaction team was led by private equity Partners Gemma Phillips and Tim Hewens, who advised Tenzing, alongside private equity Partner Richard Kyle, who advised VIPR’s management team.
The deal highlights Simmons’ private equity capabilities and its experience advising on transactions in the insurance technology sector. It also underscores the firm’s track record of advising financial sponsors and technology focused businesses on strategic investments and exits.
Commenting on the deal, Gemma Phillips said: “We are pleased to have supported Tenzing and VIPR’s management team on this important transaction and to have worked alongside all parties to support VIPR’s next stage of growth.”
Paul Templar, CEO VIPR "Simmons and Simmons was an excellent partner on this transaction. The deal was complex and the timeline was tight, but the team stayed commercial, moved at our pace and made the process straightforward from start to finish."
