Charterhouse Capital Partners-backed Lane Clark & Peacock LLP to Acquire Aon’s Retirement and Investment Business in Germany
May 17, 2021
Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, announces that its portfolio company Lane Clark & Peacock LLP (“LCP” or “the company”), the professional advisory firm specialising in pensions, investment consulting and insurance, has agreed to acquire Aon’s retirement and investment business in Germany (“the business”). The transaction with Aon is contingent on the completion of the pending Aon and Willis Towers Watson combination, as well as other customary closing conditions.
The business provides a full suite of services including pension consulting, administration and pension insurance brokerage, and is one of the top three players in the German market, which is itself the largest market in the world for actuarial advisory work after the U.S. and the UK. The business employs 350 people and has offices in 5 locations.
Charterhouse first invested in LCP in January 2021 with a view to support the business’s growth of its core service offerings and to assist in its acquisition efforts to diversify revenue streams. The acquisition will transform LCP into one of the largest pension consultancies in Germany and follows on from a period of growth at LCP, which posted a record income of £126.5m during the financial year 2019/20, an increase of 10.1% driven by success across the pensions, investments, insurance, energy and health sectors. Charterhouse will continue to support LCP’s development and drive value creation alongside its management team and Partners.
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