PRINT THIS PAGE Hellman & Friedman to acquire SSP Holdings for £198m23/07/2008. Source: AltAssets. 
San Francisco-based private equity firm Hellman & Friedman has agreed to acquire UK-based IT firm SSP Holdings for £198m, including the assumption of existing debt. The investment will be made from the firm's Hellman & Friedman Capital Partner VI fund, which closed on $8.4bn last year. Under the terms of the agreement, SSP shareholders will receive 190 pence in cash for each share they own.
Public listed SSP, which services the UK general insurance sector, generated profits of £8.8m on revenues of £64.4m for the year ended 31 March 2008, according to a statement.
Stephen Duckett, managing director of Hellman & Friedman, said, 'Hellman & Friedman is delighted to have the opportunity to invest in SSP. We are excited about supporting SSP's management team as they continue to successfully grow the business and we look forward to helping them build on a well established market position and strong customer relationships.'
Hellman & Friedman's investments have included Iris Software Group, Kronos, Intergraph, Vertafore, Activant, DoubleClick, Geovera and Paris Re.
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