Cross-border Ogier team advises Ardonagh Group on completion of US$7.5 billion restructuring

A cross-jurisdictional Ogier team represented Ardonagh Group and its subsidiaries on the restructuring of its investment structure, resulting in a US$7.5 billion valuation.

The now completed transaction, which included two cross-border mergers, aided the group in securing a major equity fundraising from existing long-term shareholders Madison Dearborn Partners LLC and HPS Investment Partners, together with allowing the introduction of new equity investment from global institutions such as the Abu Dhabi Investment Authority.

Ogier also acted on the formation of the CaymanCo and assisted with its organisational structuring, including its shareholders' agreement and complementary memorandum and articles of association.

The Ogier team was led by practice partner Raulin Amy and partner Oliver Richardson, assisted by associate Alex Vibert and paralegal Lara Morand in the Jersey corporate team, with partner Bradley Kruger in the Cayman Islands, assisted by counsel Richard Bennett, senior associate Tom McLaughlin and associate Caroline Dekker. Throughout the transaction the Ogier team worked closely with onshore law firms Herbert Smith Freehills LLP, Latham & Watkins (London) LLP, Slaughter & May,  Kirkland & Ellis LLP and Proskauer Rose LLP.

The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. Founded in 2017, Ardonagh operates as an independent insurance broker with four units: international, specialist, advisory and retail. The company employs more than 8,000 people at more than 100 locations.