Private equity firm BC Partners LLP has sold all its shares in Sabre Insurance Group Plc.

Barclays Bank, which acted as sole global coordinator and bookrunner, announced that certain private equity funds advised by BC Partners and Angus Ball have completed the sale of 44,757,377 ordinary shares in the Surrey-based insurer.

At £2.60 per share, gross proceeds from the accelerated bookbuild offering – none of which will go to Sabre – equate to £116.4 million.

“Following completion of the offering, BC Partners will no longer own any shares in the company,” said Barclays Bank. “Angus Ball will own approximately 1.8% of the outstanding ordinary share capital of the company.”

The shares sold to institutional investors represented approximately 17.9% of Sabre’s outstanding ordinary share capital.