Vitruvian buys into CFC at £230mn valuation

Private equity house Vitruvian has acquired a stake of around 40
percent in specialist managing general agent (MGA) CFC
Underwriting, The Insurance Insider can
reveal.
Sources told this publication the deal values the business at
£230mn ($284.8mn), which is equivalent to an astronomical
multiple of just over 15x forward Ebitda, and almost 20x trailing
Ebitda.
This publication first revealed in December last year thatCFC had appointed Evercore to run a process which looked to
change the equ