International law firm Taylor Wessing has advised longstanding client Hyperion Insurance Group on the agreement by General Atlantic, to acquire just over 30% of the shares in Hyperion from 3i Group plc and BP Marsh & Partners Plc. The transaction values the Company at an equity value of £250 million.
The acquisition of this major stake will be achieved by General Atlantic, a global growth equity firm, acquiring up to 100% of 3i's holding and 80% of BP Marsh's holding. Hyperion management and employees continue to hold over 60% of shares in the Company and no shares will be sold by management or employees as part of the transaction.
On completion of the transaction, John Bernstein, Managing Director of General Atlantic in Europe, will join the Board of Hyperion, subject to regulatory approval.
Taylor Wessing corporate and finance partners Peter Kempe and Martin Yells advised Hyperion.
Peter Kempe commented:
"Taylor Wessing advised when BP Marsh invested in the company at the outset in 1994 and when 3i invested in 2008 and are delighted to be able to assist Hyperion at this next exciting stage in the group's development"
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.