Independent European legacy acquirer Compre has announced that Will Bridger and Mark Lawson have succeeded Nick Steer to become joint Chief Executive Officers (CEOs) of the company.
As co-leaders, Bridger and Lawson will support Compre as it prepares for strong, sustained growth, having exited its third-party servicing business in 2017 and set its focus squarely on the acquisition and management of non-life legacy portfolios.
Prior to their appointment, Bridger and Lawson served Compre as Managing Director of Acquisitions and Group Actuarial Director, respectively.
Compre has been supporting its growth ambitions recently by securing additional debt and equity capital, working with reinsurance partners, and arranging a revolving credit facility, which will increase the size and flexibility of its capital base.
Bridger commented: “It gives me great pleasure to take on the CEO role with Mark, who shares my passion and drive to continue to develop Compre into one of the major players in the legacy sector. There are great opportunities, which we will work tirelessly to capitalise on to make Compre bigger and stronger.”
Lawson added: “Compre has a strong acquisition pipeline in Europe, driven by weekly discussions across Europe with counterparties to help them identify and realise value trapped by legacy liabilities. Continental Europe remains Compre’s heartland but we are highly ambitious and further territories are under consideration.”
Compre has already completed the acquisition of 11 companies and 29 portfolios in deals made across 11 European countries.
Last year, the company signed its largest ever transaction in a €300 million deal with Generali, and established a protected cell company (PCC) in Malta.
