Ardonagh Secures $14 Billion Valuation with Stone Point Capital Investment
Deal News | Dec 17, 2024 | Stone Point Capital LLC
The Ardonagh Group, a major independent insurance distribution platform and global broker, has secured an equity investment from Stone Point Capital, a U.S. private equity firm, valuing the group at $14 billion. This significant investment positions Stone Point as a key shareholder alongside Madison Dearborn Partners, HPS Investment Partners, and other global institutions, with completion expected in mid-2025. Ardonagh has experienced significant growth, particularly in 2021 and 2022, through strategic acquisitions and mergers. The group's key markets include the UK, Europe, APAC, and Latin America. Stone Point's investment is anticipated to strengthen Ardonagh's position in the global property and casualty insurance market, leveraging Stone Point's extensive financial services expertise. Fenchurch Advisory Partners, Goldman Sachs, and Morgan Stanley are financial advisors to Ardonagh, while legal advice is provided by Paul, Weiss and Debevoise & Plimpton for Ardonagh and Stone Point, respectively.
Sectors
- Insurance
- Private Equity
- Financial Services
Geography
- United Kingdom – The Ardonagh Group, originally formed from UK insurance businesses, considers the UK its largest market.
- United States – Stone Point Capital, based in Greenwich, CT, is the investing private equity firm.
- Australia – Ardonagh recently completed the acquisition and merger with PSC Insurance Group, a noteworthy development in Australia.
Industry
- Insurance – The article discusses The Ardonagh Group, a leading global insurance broker, operating across the insurance distribution value chain.
- Private Equity – Stone Point Capital, a private equity firm, is making an investment in Ardonagh Group, underscoring the industry's focus on financial services.
- Financial Services – The involvement of Stone Point Capital, Madison Dearborn Partners, and HPS Investment Partners positions the article within the broader financial services landscape.
Financials
- $14 billion – Valuation of The Ardonagh Group after investment from Stone Point Capital.
- A$2.3 billion – Value of the take-private of PSC in Australia by Ardonagh.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Ardonagh Group | Target Company | Company | One of the world's largest independent insurance distribution platforms and a top 20 global broker. |
| Stone Point Capital LLC | Bidding Company | Company | A US-based private equity firm focused on financial services and related industries. |
| Madison Dearborn Partners | Existing Shareholder | Company | A leading private equity investment firm. |
| HPS Investment Partners | Existing Shareholder | Company | A credit-focused alternative investment firm. |
| Abu Dhabi Investment Authority | Co-Investor | Government | A sovereign wealth fund of the Emirate of Abu Dhabi. |
| Fenchurch Advisory Partners | Financial Advisor | Company | Provides financial advice to Ardonagh. |
| Goldman Sachs Investment Banking & Co. LLC | Financial Advisor | Company | One of the financial advisors to Ardonagh. |
| Morgan Stanley & Co. LLC | Financial Advisor | Company | Provides financial advisory services to Ardonagh. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal Advisor | Company | Legal advisor to Ardonagh. |
| Debevoise & Plimpton LLP | Legal Advisor | Company | Legal advisor to Stone Point. |