Travers Smith LLP has advised the management team of A-Plan Group Ltd (A-Plan Group) in relation to the acquisition of A-Plan Group by Howden (an international insurance broking group), a subsidiary of Hyperion Insurance Group (Hyperion), with Carl Shuker continuing to lead A-Plan Group as CEO. Travers Smith has a long-standing relationship with A-Plan Group, having acted for management when Hg Capital acquired the business in 2015.
The deal will create one of the UK’s largest insurance brokers managing over £4bn of gross written premium for 1.5 million clients and operating from more than 100 locations. Hyperion, will become the fifth largest employee-owned business headquartered in the UK with over 8,000 employees, including 4,500 in the UK.
Carl Shuker commented: “This is the second transaction through which we were supported by Adam and his team, and I cannot thank them enough for their support, diligence and, at times, humour in taking us through what was a complex process”.
The transaction is subject to customary regulatory approvals.
The Travers Smith team was led by Private Equity and Financial Sponsors Partner Adam Orr, supported by Senior Associate Sally Hirst and Associates Eve Dwyer, Shannon Anstee and Sarah Owadally. Specialist tax advice was provided by Tax Partner Hannah Manning, supported by Senior Associate Siv Devakumar and Associates Rob Smith and Lewis Currie.