Fulcrum Capital acquires equity stake in Kapara Insurance Brokers

It looks like exciting times ahead for our client, Fulcrum Capital, who has just announced that they have acquired a 30% equity stake in Kapara Insurance Brokers (Pty) Limited.

Below is the press release with all of the information.

Fulcrum Capital acquires equity stake in Kapara Insurance Brokers

Effective from 1 March 2016, Fulcrum Capital, a Fulcrum Group business, has acquired a 30% equity stake in Kapara Insurance Brokers (Pty) Limited. This acquisition is another important step in the evolution of Fulcrum Capital, and one that will see the brand broadening its scope and offering within the industry.

Pete Gordon, head of Fulcrum Capital notes that this partnership is one that will further allow Fulcrum to work alongside brokerages with strong management teams, in making greater strides within the industry. “A major component of our strategy is to partner on a meaningful minority equity basis with a select group of short-term insurance brokerages in identified geographic regions. We are looking forward to an exciting journey ahead with Kapara,” Gordon states.

Kapara’s strong technical and administrative capabilities and the cultural and strategic alignment with Fulcrum make them an ideal partner for Fulcrum Capital’s offering in the Johannesburg region.

Kapara was founded in 1999 by David Dowding and Morag Dover, and is a highly successful medium sized short-term insurance brokerage. The company, based in Johannesburg, has a strong track record in providing superior service and solutions to its Commercial and Domestic insurance clients.

Dowding affirms that Fulcrum is the right partner to enhance development within Kapara management. “In the changing and challenging times in the financial service industry we have recognised that it is essential to strengthen and develop our management team and to sustain our position as leading brokers. We are pleased that we have secured the partnership with Fulcrum Capital. This partnership is an important step for Kapara to strengthen our capital base, develop our management team and enhance sustainability in the broker market. Our strength will remain in providing our personal approach to service that can be thoroughly trusted,” says Dowding.

Dowding and Dover, who have been in business together since 1979, will retain a majority stake in Kapara and continue to take the business to new heights – now alongside Fulcrum Capital – ensuring stability and further success for the brand.