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Eversheds advises Beech Tree Private Equity on stake in telematics company

Law firm Eversheds has advised Beech Tree Private Equity on its maiden investment in RS Fleet Limited, a UK-based installer of telematics devices into vehicles on behalf of insurance companies.

Beech Tree Private Equity is a new private equity firm providing capital and expertise to fast growing businesses across the UK.

Beech Tree was founded by two experienced private equity investors, Andy Marsh and Paul Franks, who previously ran the regional private equity business of Gresham Private Equity.

Telematics devices are increasingly being used by insurance companies to provide real-time data on driver behaviour that enables insurers to offer consumers lower priced policies if they drive responsibly. Telematics devices are now being fitted in more and more policies which enable a wide range of consumers to benefit from lower premiums and reward good driving behaviour. The use of telematics devices has improved driver behaviour with insurers who have actively adopted the technology reporting improved loss ratios, facilitating lower premiums for their customers.

The Eversheds team was led by Partner Antony Walsh assisted by Nick Turner, Colin Askew and Elizabeth Blackwell.

Paul Franks, managing partner of BTPE, says: “We are incredibly excited to be investing in RS Fleet. Our business model is to seek out fast-growth sub-sectors in the UK and then find the best businesses in these sectors to take advantage of the market dynamics.”

Walsh says: “This is an exciting deal for Beech Tree as they build their portfolio and invest in new and innovative companies. Eversheds is highly experienced in mid-market private equity work and it is a pleasure to have advised Beech Tree on its maiden investment.”

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