Ardonagh announces agreement to invest in Hemsley Wynne Furlonge
01 March 2021
The Ardonagh Group (“the Group”) today announces that it has entered into an agreement to invest in Hemsley Wynne Furlonge LLP ("HWF").
The trade and assets of HWF will be acquired by Hamilton Investment Bidco Limited, a subsidiary of the Group which will be renamed Hemsley Wynne Furlonge Partners Limited.
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.
With offices in London and Germany, 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 has grown substantially since its launch 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 and the business will continue to trade independently under the Hemsley Wynne Furlonge/HWF Partners 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 Group intends to fund the purchase via its committed acquisition facility.
Notes to Editors
THE ARDONAGH GROUP
The Ardonagh Group is the UK’s largest independent insurance broker powered by a network of over 100 locations across the UK and Ireland and a workforce of over 7,000 people. Formed in 2017, Ardonagh today brings together best-in-class brands including Autonet, Arachas, Bishopsgate, Broker Network, Carole Nash, Compass Networks, Ethos Broking, Geo Underwriting, Price Forbes, Swinton, Towergate and URIS.
HWF is a Specialist M&A insurance broker which structures bespoke insurance solutions for M&A transactions and other contingent risks. With offices in London and Germany the team has advised on over 2,000 transactions spanning 51 countries, with deal values ranging from £5m to in excess of £8bn.