AIM-listed LitComp taken private

Mid-market investor Maven Capital Partners has backed the public-to-private acquisition of insurance business LitComp.

The East Midlands-based business decided to delist from AIM after concluding ‘the market had failed to reflect [its] intrinsic value and growth potential’, according to Maven which has taken a 40 per cent stake in the company.

LitComp shareholders received 35p in cash for each share, valuing the company at approximately £5.5 million. The deal is billed by Maven as ‘one of the first public-to-private transactions led by a VCT manager’.

CEO Jason Smart will continue to lead LitComp, which specialises in “after the event” insurance and listed on AIM in 2006. The company generated sales of nearly £30 million and earnings of £2.3 million last year.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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