Tempcover to sell up to Uswitch and Confused owner RVU
The broker completed an MBO at the start of 2018.
RVU, owner of Uswitch, Confused.com and Money.co.uk, has agreed to buy Tempcover for an undisclosed sum.
Since it was founded in 2006 Tempcover, which specialises in short-term car, van, courier, motorbike, student, and learner insurance – has sold more than 3.9m policies.
The broker completed a £13.3m management buy-out in January 2018 backed by £7.5m from Connection Capital alongside a £5.75m debt package from Santander UK’s Growth Capital team. At that time it was writing over 360,000
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