Law firm Addleshaw Goddard assists Santévet Group in the purchase of a pet insurance company
The Santévet Group, a leading independent, tech-enabled pet health insurance platform in Europe, has announced its acquisition of Tedaisy Insurance Group. This strategic move aims to strengthen Santévet's presence in one of the most mature and valuable pet insurance markets globally – the UK.
The acquisition, valued at an undisclosed amount, aligns with Santévet's international growth strategy, positioning it as a pan-European leader in the pet health insurance sector. Tedaisy, operating under brands such as Perfect Pet and Now Pet Insurance, brings over £35 million in gross written premiums and hundreds of thousands of insured pets to the table, making it an attractive and complementary acquisition for Santévet.
The deal is expected to be finalised by the end of the year, pending customary regulatory approvals in the UK. Santévet's majority shareholder, Columna Capital, a private equity firm focused on the insurance and financial services sectors in Europe, is actively supporting the transaction as part of its investment strategy.
Legal advisory for the transaction was provided by Addleshaw Goddard, with the London corporate team managing the process. Fladgate also provided legal advice, while Continuum Advisory Partners acted as financial adviser to Tedaisy. Commercial due diligence was offered by Oliver Wyman, with financial due diligence by Evelyn Partners and Mazars.
The acquisition is designed to bolster Santévet's European growth strategy, leveraging Tedaisy's established presence and expertise in the UK market. Tedaisy will continue to operate under its existing brands, with its current leadership team remaining in place. The aim is to accelerate growth in the UK market by combining Tedaisy's local market knowledge with Santévet's broader resources and European experience.
The acquisition solidifies Santévet's leadership in the European pet insurance sector, particularly by adding the UK – a market noted for its sophistication and size – to its existing operations in France, Belgium, Spain, Italy, and Germany. Both management teams anticipate accelerated growth for Tedaisy in the UK, supported by Santévet's technological assets and pan-European platform. This is expected to enhance the accessibility and innovation of pet health insurance offerings for UK customers.
The deal is positioned as a complementary partnership, combining Tedaisy's innovative, customer-focused approach with Santévet's scale, data capabilities, and two decades of insurance market experience. Vilmos Pongrácz, co-founder and partner at Columna, sees the acquisition as a significant step towards delivering on Santévet's international expansion plan.
This acquisition represents a significant consolidation in the European pet insurance industry, driven by strategic market entry, technological integration, and shared growth ambitions between Santévet and Tedaisy. Addleshaw Goddard played a central advisory role in the transaction, underscoring its pan-European M&A credentials in the rapidly evolving insurance and pet health sectors.
Santévet's growth strategy involves expanding its presence in the pet health insurance sector, and this acquisition of Tedaisy aligns with that goal, positioning Santévet as a pan-European leader by leveraging Tedaisy's UK market expertise. This strategic move in finance and business, supported by Columna Capital, is expected to drive investing opportunities for both companies, particularly in the UK market.
