Acromas was the holding company for Saga and the AA. Saga was the leading commercial organisation in the UK offering products and services to the over-50s demographic, ranging from travel, insurance and financial services. The AA was the UK’s largest roadside recovery business and one of the leading insurance brokers. See how we backed the business' investment in new and emerging business opportunities…
Saga and The AA (Acromas)
Together we achieved
- Strengthening of Saga’s position as the leading commercial organisation in the UK with a 96% brand awareness among its target customer segment
- Strengthening of The AA’s position as one of the UK's most trusted breakdown cover provider
- Development of service and product offerings in new market verticals
- Strong growth of both passengers and profit in the Saga travel business
- Exit via IPO on the London Stock Exchange for The AA in June 2014 and Saga in April 2016
This was accomplished by
- Supporting the operational separation of the AA and Saga in 2013/14, which allowed the independent IPOs of the two businesses on the London Stock Exchange
- Continued investment in new and emerging business opportunities such as the Saga Investment Services joint venture, private homecare trials and retirement villages
- Transforming Saga’s core Insurance business towards a more capital-light broking model
- Delivered significant operational improvement in The AA through a number of initiatives
- Strengthening of both management team pre and post-IPO, particularly with appointment of Lance Batchelor as CEO at Saga
The metrics
2007
Acquisition year
2016
Exit year
IPO
Exit type
4.6x
ROI