-
It’sSeg is Brazil’s largest independent benefit management firm with over 1,000 corporate clients. -
The deal comes after the group struck deals in Germany, Poland and the Netherlands.
-
The transaction is to increase the run-off specialist’s balance sheet significantly.
-
Investee firm CBC has also secured £3mn financing from Coutts.
-
Howden inked its biggest deal to date with its agreement to acquire Aston Lark for around £1.1bn.
-
The acquirer paid a cycle high 17x-18x Ebitda that has raised eyebrows at competitors and in banking circles.
-
The deal marks the first legacy risk transaction for the start-up.
-
Sources said the deal consideration was £1.1bn, confirming earlier reports by this publication.
-
Aneco operates in the P&C and employee benefits markets and manages $35mn in premiums.
-
Should Howden be successful in sealing the deal, it will be its third piece of major M&A in just over 12 months for a combined sum of approximately £2.5bn.
-
The London-headquartered independent looks set to beat off acquisition from Brown & Brown and others.
-
After the acquisition, the Beech team will continue to be led by Geoff Stilwell, Andrew Woodhams and Matt Gates.
