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December 16, 2021

Insurance broking firm Ardonagh secures equity investment

UK-based insurance broking firm The Ardonagh Group has secured a new significant equity investment that takes its valuation to around $7.5bn.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
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  • Assess and showcase the growth potential for various Industries in the target economy
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by GlobalData
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It secured the investment from existing long-term shareholders Madison Dearborn Partners and HPS Investment Partners, alongside new co-investors through accounts managed by MDP and HPS, including a completely-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and several large global institutions.

As  per the terms of the transaction, funds affiliated with MDP will raise their shareholding in Ardonagh while HPS will reinvest in it.

The co-investors, including the ADIA subsidiary and several other large global institutions, will also acquire over $1bn equity through accounts managed by MDP and HPS as part of the transaction.

The Ardonagh Group CEO David Ross said: “The recommitment of both HPS and MDP continues a partnership that has helped Ardonagh grow into an international broking powerhouse. Continuity of ownership after six years is the optimum outcome for us, allowing management to focus solely on the execution of our strategy and the preservation of the unique Ardonagh culture.

“We are also delighted to welcome HPS and MDP co-investors to the Group. Their global, long-term ambitions are perfectly aligned with our own and those of our other shareholders, securing our goal of being a private enterprise for years to come. Today is a major milestone in Ardonagh’s journey and the achievement belongs to our greatest asset – every one of our people.”

Set up in 2017, The Ardonagh Group serves as a broker for clients across Retail, Advisory, Specialty and International platforms.

As of 30 September 2021, Ardonagh had a last twelve months (LTM) pro-forma income of $1.5bn and LTM pro-forma adjusted EBITDA of $530m.

It employs around 8,000 people across more than 100 locations.

Expected to close in the first half of 2022, the deal is subject to customary closing conditions including regulatory approvals.

Fenchurch Advisory Partners is serving as the sole financial advisor to The Ardonagh Group.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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