Hutton Collins Invests in Windsor

Hutton Collins invests in Windsor

Hutton Collins is pleased to announce that it has acquired a minority stake in Windsor in conjunction with the company’s acquisition by its management team.

Windsor is a leading Lloyd’s insurance broker, operating across a range of specialist sectors including professional indemnity, marine, liability, sports, aviation, commercial, political, bloodstock and renewable energy. Prior to the acquisition Windsor was listed on the London Stock Exchange. Windsor is headquartered in London and employs over 180 people.

The total value of the transaction was £40m. Hutton Collins invested £15m of mezzanine and preferred equity capital alongside a £6m investment from 68 members of Windsor’s management team and employees

David Low, Chairman of Windsor, commented:

“Following 30 years as a publicly listed company I am pleased and proud to announce that Windsor plc was delisted from the London Stock Exchange on the 23rd March 2007. I welcome the new partnership between Hutton Collins and our existing staff to create a company that will focus on our clients while simultaneously reducing burdensome regulatory restrictions and costs.

Savings in management time can be reinvested in enhancing our service and taking new opportunities to develop the company over the long term. This is an important strategic step for the future of the company and has the great appeal of enabling us to focus all our efforts on our clients whilst motivating all employees to deliver better results and to create a unified company for the future.

We are delighted to welcome Hutton Collins, a highly specialist team of investors, as a partner in our new company. Hutton Collins bring a tremendous amount of support to the table and we very much look forward to working together with them in the future”

Douglas Oppenheim, investment director at Hutton Collins, said:

“Windsor is a highly focused insurance broker with market leading margins and led by an experienced management team with a track record of achievement.

The deal structure put in place by Hutton Collins and the financial commitment from the management team and employees have enabled the team to increase its ownership of the business from 10% to 78%. We believe that this concentration of ownership will act as a catalyst for the business and drive future growth.”

The senior debt facilities were provided by KBC Bank. Management team was advised by KBC Peel Hunt (corporate finance), Barlow Lyde & Gilbert (legal). Hutton Collins was advised by Dickson Minto (legal). Financial and commercial due diligence were provided by KPMG. Windsor was advised by Cannacord Adams.