Perennial Sold to Howden in Strategic Acquisition
Deal News | Dec 04, 2024 | Legal Community Swiss
Perennial, a corporate insurance company founded in 2005 and based in Lausanne and Fribourg, has been acquired by Howden, a leading global insurance brokerage group. The transaction was facilitated by Bonnard Lawson, who provided advisory services to Perennial and its shareholders. This acquisition allows Howden to establish a new regional hub in French-speaking Switzerland. Post-acquisition, Perennial's founder, Sacha Baumli, will lead the management and development of Howden's Suisse Romande region, while also remaining the chairman of Perennial's board. Cedric Gomez, another key partner at Perennial, will manage Howden's Affinity business in the region. Moreover, both Baumli and Gomez will become joint shareholders of Howden Groupe, indicating a mutually beneficial integration of operations and leadership between the companies.
Sectors
- Insurance
- Legal Services
Geography
- Switzerland – Perennial is based near Lausanne and in Fribourg, indicating significant geographic relevance as Howden establishes a hub in French-speaking Switzerland.
- United Kingdom – Howden, a global insurance group, is part of a UK-based company, depicting involvement from the UK in this international acquisition.
Industry
- Insurance – The article focuses on Howden's acquisition of Perennial, a company specializing in insurance services, highlighting the industry's role in corporate and personal insurance solutions.
- Legal Services – Bonnard Lawson provided legal advisory services for the transaction, showcasing the importance of the legal industry in mergers and acquisitions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Perennial | Target company | Company | A company offering corporate insurance business founded by Sacha Baumli, located near Lausanne and in Fribourg, Switzerland. |
| Howden | Bidding company | Company | A leading global insurance brokerage group acquiring Perennial to expand its regional presence. |
| Bonnard Lawson | Legal advisor | Company | A legal firm that advised Perennial and its shareholders during the sale to Howden. |
| Sacha Baumli | Founder and future Suisse Romande region developer for Howden | Person | Founder of Perennial, now set to manage and develop Howden's Suisse Romande region while remaining chairman. |
| Cedric Gomez | Board Member and future manager of Howden's Affinity business | Person | Partner and member of the Board at Perennial, will take charge of Howden's Affinity business in French-speaking Switzerland. |