Acturis set to seek new minority PE investor
Summit Partners invested in June 2010.
Software house Acturis is getting ready for the departure of minority private equity backer Summit Partners, Insurance Age can reveal.
“We are considering options to replace Summit but there is nothing immediate in the window,” said co-founder and co-CEO Theo Duchen.
Summit invested in Acturis in June 2010 and Duchen pointed out that an eight and a half year holding period was a “very long” one for private equity.
As minority shareholders Summit, with less than 40% of shares, does not control
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