WBD has advised Dunedin, the UK mid-market private equity house, on its management buyout (MBO) of Acquis Insurance Management, an independent insurance broker and administrator that provides specialist solutions to the finance and leasing industry.
The investment will support Acquis' plans to grow its team and expand into new markets, particularly in Europe where the business has recently opened a new office in the Netherlands. Acquis will also invest in developing new products to meet a broader range of client needs.
A multidisciplinary team of lawyers from WBD advised Dunedin on the transaction, led on the corporate side by partner Tom Fitzpatrick and associate Alex Fergus and on the insurance side by partner Jonathan Drake.
Tom Fitzpatrick, partner at WBD, commented:
"WBD has a strong track record in both private equity and the insurance and financial services sectors and it was great to bring those two specialisms together for a relatively new PE client. We look forward to working with the business to help it deliver its growth plans."
Oliver Bevan, partner at Dunedin, added:
"Dunedin has a strong record of investing in specialist insurance. We worked with WBD last year when they advised Kingsbridge, another specialist insurance business in the Dunedin portfolio, on a deal. We were impressed by their sector expertise and wanted to use them to lead on this transaction. It has been great working with them."
Ranking in the UK's top 20 law firms, WBD regularly provides legal expertise to clients in the insurance and financial services sector. Recent deals include advising Arch Insurance Europe on the £31m purchase of the Ardonagh's commercial lines business and the firm also advises Willis Towers Watson on corporate matters.