H.W. International B.V. Sells European Operations to Steadfast Group
Deal News | Nov 11, 2024 | Reynolds Porter Chamberlain (RPC)
H.W. International B.V., an Amsterdam-based insurance broker group, is set to sell its UK, French, and Greek operations to Steadfast Group, the largest general insurance broker network and underwriting agency group in Australasia. The transaction, advised by international law firm RPC, is scheduled for completion in early December, following regulatory approvals. H.W. Wood, founded in 1982 and established as a Lloyds broker in 2003, provides insurance solutions across various sectors. The deal represents a significant phase in the reorganization of H.W. International B.V., as articulated by David Nelson, NED Chair. The sale to Steadfast Group is expected to foster technological advancements and expansion for H.W. Wood, positioning the company for continued growth under Steadfast's leadership. RPC has been instrumental in guiding H.W. International B.V. through this transition, showcasing their sector expertise.
Sectors
- Insurance
- Legal Advisory
Geography
- Netherlands – H.W. International B.V. is based in Amsterdam, Netherlands, making it a key geographical participant.
- Australia – Steadfast Group is based in Australasia, highlighting its geographic relevance as the acquiring company.
- United Kingdom – The transaction involves H.W. Wood Limited, based in the UK, engaging British regulatory environments.
- France – HWI France, a French subsidiary being sold, makes France a relevant geography.
- Greece – The transaction includes assets in Greece, placing it in the geographical context.
Industry
- Insurance – H.W. International B.V. and Steadfast Group are involved in the insurance industry, specializing in brokerage and underwriting services.
- Legal Advisory – RPC, the law firm advising on the transaction, operates within the legal advisory sector, providing commercial, insurance, and private equity legal services.
Financials
- Not Disclosed – The financial terms of the transaction were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| H.W. International B.V. | Target Company | Company | An Amsterdam-based insurance broker group selling its subsidiaries to Steadfast Group. |
| Steadfast Group | Acquirer | Company | The largest general insurance broker network and underwriting agency group in Australasia. |
| H.W. Wood Limited | Subsidary | Company | A UK-based subsidiary of H.W. International B.V. included in the sale. |
| HWI France | Subsidary | Company | A French subsidiary of H.W. International B.V. involved in the transaction. |
| RPC (Reynolds Porter Chamberlain) | Legal Advisor | Company | An international law firm advising H.W. International B.V. on the sale. |
| Steve Rudduck | Managing Director and CEO | Person | CEO of H.W. Wood, commenting on the future prospects after the sale. |
| David Nelson | NED Chair | Person | Non-Executive Director Chair of HWI BV and H.W. Wood, discussing the transaction as a milestone. |
| James Mee | Partner and Head of Commercial Insurance and Private Equity | Person | RPC partner involved in advising the transaction. |