BDML Connect Limited Acquired by Capita
I am very pleased to advise you that, subject to receiving
the approval of the Financial Services Authority, Capita Insurance
Services Group Limited (Capita) has acquired 100% of the share
capital of BDML Connect Ltd from BDML Group.
The market for general insurance distributed via non-insurance
brands is still developing strongly and the acquisition of
BDML Connect by Capita will provide us with the scalability
and the resources to help us capitalise on the increasing
market opportunity that lies ahead.
Capita is an excellent parent for our business and will add
value not only to all our current and future business partners,
but also to our management team and staff who have helped
achieve BDML’s successful growth to date.
I will continue as Chairman and CEO of BDML Connect and retain
control of day-to-day operations along with my existing senior
management team. BDML Connect will retain its identity and
will continue to operate as it does now, although I expect
that the acquisition offers us much greater scope to grow
our business and meet the needs of all our current and future
business partners.
While delighted with our new shareholders, I wish to acknowledge
the support of my fellow shareholders in BDML Group who have
helped BDML Connect attain its reputation and standing in
a highly competitive and growing market.
As a consequence of the sale, the BDML Group will change
its name to Binomial Group Ltd and will focus on its subsidiary,
Sabre Insurance Company.
Should you have any questions, please do not hesitate to
call me, Alan Davies, David Seel or Mark Townsend.
Finally, I wish to thank you for your continued support and
I very much look forward to working with you in the future.
Kind regards
Sandy Dunn
Chairman & Chief Executive
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