Taylor Wessing acts on £120 million transaction between Hyperion Insurance Group Limited and 3i Group Plc
Taylor Wessing LLP has acted for Hyperion Insurance Group Limited, a leading international insurance group, on an investment agreement with listed private equity company 3i Group Plc.
3i will acquire a 27 per cent stake in the insurance group, which combines the insurance broking operation, Howden, and the underwriting businesses, CFC Underwriting and DUAL. The deal, which combines a private equity share, option and loan note investment and a new HSBC bank finance, valued Hyperion at in excess of £120million, and will enable the company's planned expansion into Asian and Middle Eastern markets.
Taylor Wessing advised Hyperion on the sale of existing shares to 3i, investment by 3i for new shares and loan notes and in respect of the banking facilities. This deal closely follows Taylor Wessing's recent advice to iimia MitonOptimal Plc, the AIM-traded company encompassing fund management, wealth management and corporate finance, on its £100m acquisition of fast-growing fund management company, Midas Capital Partners Limited.
Peter Kempe, Vanessa Graham, Hilary Marr, James Oliver and Oliver Loach (Financial Institutions & Markets) advised Hyperion on the corporate aspects of the deal, while Martin Yells, Nada Jarnaz and Ed Avens (Finance) dealt with the banking facility. Anthony Metcalfe-Gibson and Ann Casey (Tax) dealt with the option arrangements.
Notes to editors
For more information, please contact Sarah le Cheminant at Taylor Wessing:
Tel: +44 (0)20 7300 4930
Email: s.lecheminant@taylorwessing.com
Taylor Wessing LLP is a leading law firm acting for for commercial organisations doing business in Europe and the Middle East. With offices in the UK, France, Germany, Belgium and Dubai, Taylor Wessing provide the full range of legal services to major corporations and growing enterprises. Taylor Wessing have a strong reputation in the corporate, finance and real estate sectors and depth and experience in intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client areas of practice.
About Hyperion
Founded in 1994 by David Howden, Hyperion focuses on a range of specialist insurances including Professional Indemnity and Directors’ and Officers’ Liability through its subsidiaries: Howden, DUAL and CFC. The Group now serves clients in 50 countries with offices throughout Europe, Scandinavia, the Middle East, Asia, the Americas and Australia. The Hyperion Insurance Group has achieved an impressive annual growth rate of approximately 40% since inception.