Ardian and Edmond de Rothschild enter exclusive negotiations to sell the Siaci Saint Honore Group to its management, with the support of Charterhouse
June 07, 2018
Ardian, a world-leading private investment firm, has entered into exclusive negotiations with the management of Siaci Saint Honore ("the Group") and Charterhouse, a leading player in private equity in Europe who made a firm offer to acquire the Group, one of the leading French insurance consulting and brokerages.
The transaction will allow the Group’s management team, led by Chief Executive, Pierre Donnersberg, to take a majority stake in the business, allowing them to pursue their goal of creating a leading French international consulting and insurance brokerage group.
Following the transaction, Charterhouse, which strongly believes in Siaci Saint Honore’s growth potential, will be the main shareholder alongside management, helping the Group to develop as an independent European market leader through the benefit of its experienced team and its international reach.
Ardian may also continue to support the Group as it continues its growth. Edmond de Rothschild, the Group's long-standing shareholder, will dispose of its stake as part of the transaction. The transaction is subject to consideration by the works council of the Siaci Saint Honore Group and the signing of a definitive agreement, as well as to the approval of the competition authorities. The completion of the transaction is expected to occur in September 2018.
ING and Nomura were arrangers and bookrunners for the financing of the acquisition.