Tasker & Partners has sold a controlling interest to newly formed Tasker Ventures Limited (“TVL”). TVL is financed by funds managed by Alcuin Capital Partners, a leading growth capital investor. Paul Tasker will become a shareholder and Chief Executive of TVL and will be joined by Francis De Zulueta, who becomes Chairman on the board of both companies.
Paul Tasker said “This transaction is a significant step in our development. Alcuin’s involvement gives us the funding to focus on investment and development opportunities for both firms. After 11 years of private ownership and continued growth we are ready for this new challenge.”
Mark Storey, Founder Partner of Alcuin said “We specialise in making investments in growing, profitable smaller-middle market companies. The Lloyd’s market has interested us for some time and the niche position of Tasker & Partners, combined with its ambitious management team presents us with a great opportunity.”
The transaction was completed on 4th May 2011 having received FSA approval in February 2011. Founder shareholders Stephen Hepburn and Niel Lingwood will leave the firm, along with current Chairman Michael Jensen.