We’re pleased to share we have secured investment from private equity firm August Equity to facilitate a management buyout and support its next phase of growth.

As a technology-enabled MGA, we focus on underserved and high-growth segments operating across multiple brands which include Protectivity and SportsCover Direct – delivering tailored products to over 175,000 UK customers each year.

As part of the transaction, Starpeak founder Julian Hucks will step back from the business, moving into an ambassadorial role. The business will now be led by industry specialists Andy Brownsell and Andy Pilgrim, who will assume roles of CEO and CTO respectively. Between them, they carry over two decades of operational leadership experience within Starpeak, having played a central role in its growth to date.

The investment, which is subject to FCA approval, marks a significant milestone for the business, with August supporting continued investment in its proprietary technology platform (“iTraps”) to drive digitally led growth. The platform enables rapid product development, largely automated underwriting and efficient direct-to-customer distribution, supporting the rollout of hyper-personalised insurance products across underserved niche markets. The business also plans to evaluate acquisition opportunities to support inorganic growth, alongside organic initiatives.

As part of the deal Peter Thompson joins as Chair bringing significant sector experience from his role as CEO of BGL Group which he successfully exited to Pollen Street backed Markerstudy Group.

Julian Hucks who founded Starpeak in 1991 said “I am delighted that Starpeak has secured August as its partner and am immensely proud of what the team has achieved in growing the business. It is very exciting to see Starpeak enter its next phase of growth.”

In a joint statement on behalf of Starpeak, CEO Andy Brownsell and CTO Andy Pilgrim said, “This investment represents an exciting new chapter for our team. We have built a scalable platform that combines strong insurance expertise with sophisticated technology and data capabilities. Partnering with August now gives us greater resources to accelerate our growth while continuing to deliver exceptional service to our customers.”

Investment Partners Kishan Chotai and Greg Walsh led the investment for August, alongside Harry Caro and Jess Webster. Kishan, who led on August’s investments in AAB and Superbia, said “Starpeak has built a strong reputation and demonstrated sustainable >25% annual growth in highly attractive markets. The UK insurance services sector continues to benefit from increasing demand for niche, hyper-personalised solutions, something that Starpeak has at its core. We believe the business has a highly scalable technology platform and an ambitious leadership team, both of which provide excellent investment dynamics. ”

Starpeak was supported by Grant Thornton, Deloitte and Ortolan on the transaction.

Financial terms of the transaction have not been disclosed.