Ardonagh buys specialist M&A broker

The Ardonagh Group has entered into an agreement to invest in specialist broker Hemsley Wynne Furlonge (HWF).

The consolidator explained that the trade and asset of HWF will be bought by its subsidiary Hamilton Investment Bidco, which will be renamed Hemsley Furlonge Partners.

The value of the deal was not disclosed, but Ardonagh stated that it intends to fund the purchase via its committed acquisition facility.

Specialisms
It detailed that HWF is a specialist M&A insurance broker which structures bespoke insurance solutions for transactional risks, specialising in Warranty & Indemnity, Tax, Contingent Risk, and Environmental Indemnity products.

The broker has offices in London and Germany and Ardonagh noted that the team has advised on over 2,000 transactions spanning 51 countries, with deal values ranging from £5m to in excess of £8bn. The business launched in 2014 and last year recorded £10m of revenue.

The 17-strong team including founding partners Will Hemsley, Rebecca Wynne and Adrian Furlonge will join Ardonagh upon completion.

The broker will continue to trade independently under the Hemsley Wynne Furlonge/HWF Partners brand.

Brand
Ardonagh Group CEO David Ross said: “HWF is a highly respected brand with a top flight and ambitious team.

“The business’ sustained growth and the trust that has been placed in it by many of the world’s leading legal and financial advisors on marquee transactions is testament to the quality of operations built by the partners.

“We are committed to providing the firepower and support the team deserves for the next phase of its trajectory and at a time of strong M&A market recovery.”

HWF Co-founder Will Hemsley said: “The last six years have been a phenomenal journey and we’re incredibly proud of the business we have built.

“Joining Ardonagh affords the HWF team the backing and support to not only continue as a market leader but also accelerate our expansion into new jurisdictions and product lines whilst maintaining our independence and identity.

“This is a hugely exciting step not only for our team, but a milestone event that our clients will benefit from”.

The deal is Ardonagh’s third this year and follows its purchase of Australian broker network, Resilium, and UK-based PI specialist Hera Indemnity. 

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