Private equity firm acquires further stake in Acturis

Private equity firm Astorg has increased its involvement with Acturis by acquiring a stake of over 50% in the software house.

Back in March 2019, Astorg announced it taken a minority share in the company.

In a new deal announced at the start of July 2024, Acturis said it had signed an agreement that will see Astorg take around 52% of the firm.

Acturis co-founders and co-chief executives Theo Duchen and David McDonald will remain significant shareholders and will work with Astorg to support existing clients and drive growth.

“We are delighted to strengthen our partnership with Astorg and set the stage for our next phase of growth,” Duchen said.

”Today, we support more businesses than any other insurance SaaS [Software as a Solution] provider as the partner of choice for brokers, insurers and MGAs.

“Looking ahead, we see compelling opportunities for organic and inorganic growth across our key international markets and are confident that Astorg is the right partner for us as we continue on our mission to transform the insurance industry.”

’Reinforced partnership’

Acturis has six divisions, including Acturis Platform, Acturis Deutschland, ICE Insuretech, NIS, Add Value and Broker Buddha.

Astorg head of software and technology Benoit Ficheur said Acturis ”is a very unique software company with the exact qualities that we look for in a partner, including a high-quality team and strong fundamentals”.

“This reinforced partnership will enable us to support Acturis in its accelerated growth,” he added.

”We have been lucky to work with Acturis over the last five years and we look forward to continuing working alongside Theo, David and the wider team to support existing customers and further expand by entering new markets and segments of the industry.”