M&A Deal Summary

Howden Broking Group Acquires Aston Lark

On October 13, 2021, Howden Broking Group acquired insurance company Aston Lark from Goldman Sachs Merchant Banking

Acquisition Highlights
  • This is Howden Broking Group’s 2nd transaction in the Insurance sector.
  • This is Howden Broking Group’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2021-10-13
Target Aston Lark
Sector Insurance
Buyer(s) Howden Broking Group
Sellers(s) Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition
Advisor(s) Goldman Sachs
Macquarie Capital
PwC Corporate Finance LLC
Jamieson Corporate Finance LLP (Financial)
Eversheds LLP
DLA Piper (Legal)

Target

Aston Lark

London, United Kingdom
Aston Lark is an independent insurance broker specializes in commercial insurance, private client insurance, and employee benefits advice, and operates from 27 regional offices, serving over 100,000 customers and placing in excess of £350 million of the annual premium. Aston Lark was formed in 2017 and is based in London.

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Buyer(S) 1

Buyer

Howden Broking Group

London, United Kingdom
Category Company
Founded 1994
Sector Insurance
DESCRIPTION

Howden Broking Group Limited operates as an insurance broker in the United Kingdom.

DEAL STATS #
Overall 2 of 3
Sector (Insurance) 2 of 3
Type (Add-on Acquisition) 2 of 3
Country (United Kingdom) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-23 A-Plan

Witney, United Kingdom

A-Plan Ltd. is a UK specialist multichannel insurance broking group with a focus on personal lines and a growing presence in specialized products such as SME policies. The group’s core proposition is a branch-led, service-driven offering, valued by its large base of loyal customers that today make up over 1.5 million policies nationally. A-Plan was formed in 1963 and is based in Witney, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-12 AEGIS

Singapore , Singapore

AEGIS offers tailor-made retail insurance solutions, specializing in professional indemnity, professional liability, pilot loss of license protection, and bonds and financial guarantee schemes. AEGIS was established in 2003 and is based in Singapore.

Buy -

Seller(S) 1

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 103 of 110
Sector (Insurance) 5 of 5
Type (Add-on Acquisition) 34 of 37
Country (United Kingdom) 5 of 5
Year (2021) 14 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 LRS

Morton Grove, Illinois, United States

LRS is a provider of recycling and industry-leading waste diversion programs, affordable roll-off container services, and comprehensive waste removal to businesses and residential homeowners. LRS is based in Morton Grove, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-22 Continental Bakeries

Dordrecht, Netherlands

Continental Bakeries is a bakery group that specializes in the production and sale of cookies, biscuits, bread replacement products, and snack bases. Continental Bakeries focuses on private label products and a number of great own brands such as Haust, Gille, Grabower, Bussink, Brinky, and Continental Bakeries. Continental Bakeries was founded in 1593 and is based in Dordrecht, Netherlands.

Sell -
Mergr

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