Stevens & Bolton LLP is pleased to have acted for specialist insurance broker, and longstanding client, Stackhouse Poland Group Limited (“Stackhouse Poland” or the “Group”) on its sale (which remains subject to regulatory approval) to US headquartered global insurance brokerage and risk management firm, Arthur J. Gallagher & Co (“Gallagher”).
Stackhouse Poland is a highly successful, large-scale specialist UK insurance broker, generating more than £55m in annual revenues and placing £300m of GWP into the market. With over 500 employees operating from a network of 23 offices across the UK, Stackhouse Poland has well-established insurance divisions specialising in high-net-worth private clients, real estate, commercial, healthcare and a range of specialist insurance sectors.
Stevens & Bolton has acted for Stackhouse Poland since 2001, with highlights including Synova Capital’s investment in 2014, various refinancing rounds and support for the Group with its targeted M&A strategy (including the acquisitions of Lucas Fettes, Coleman Marine Insurance and Quantum and the five businesses acquired by the Group in 2018).
The sale to Gallagher is expected to complete in the first quarter of 2019.
The Stevens & Bolton team was led by Head of Corporate, James Waddell, supported by corporate partners, Jenny Robertson, Nick Atkins and Keith Syson, Francesca Messina, Krishna Patel, James Stenning and Katherine Shaw (corporate), Kate Schmit and Sarah Balchin (corporate tax), Sarah Kirwan (real estate), Gary Parnell and Angelica Lovell (commercial), Michelle Hobbs (employment) and Tom Collins (intellectual property).
Jeremy Cary, Chairman of Stackhouse Poland, commented: “We have enjoyed an excellent relationship with James Waddell and the team at Stevens & Bolton since the original MBI back in 2001. They have been involved in all aspects of our 17 year journey - twenty acquisitions, one PE backed MBO and finally the sale. I applaud James for his calm, measured, empathetic and, when required, steely approach to getting the Gallagher deal over the line.”
Tim Johnson, CEO of Stackhouse Poland, said: “James and the Stevens & Bolton team are consummate professionals who have provided us with a rare combination of first class legal advice and a deep understanding of the drivers of the business and its people. Their unstinting attention to detail, wise counsel and commercial acumen have been key contributors to the Stackhouse Poland journey. Their work on the sale to Gallagher was outstanding.”
James Waddell, Head of Corporate at Stevens & Bolton, added: “We have had a wonderful relationship with Stackhouse Poland, and with Jeremy Cary, James Agnew, Tim Johnson and the wider management team, over many years and we are delighted to have been part of the success of the business over that time, culminating in this deal. Richard Baxter and I acted for Jeremy, James and Keith Hester when they first acquired Stackhouse Poland back in 2001 and we feel very much part of the Stackhouse Poland family. The shareholders of Stackhouse Poland can be extremely proud of what they have built and we wish the group and its employees continued success in partnership with the Gallagher team.”