Global law firm Norton Rose Fulbright has advised Aquiline Capital Partners (Aquiline) on the sale of its interest in London-based broker Beach & Associates (Beach) to Acrisure LLC (Acrisure). Acrisure has agreed to acquire 100 percent of Beach’s equity from existing shareholders, which include Aquiline as well as current and previous Beach management.
The agreement is subject to regulatory approvals and is anticipated to complete in the first quarter of 2018. The existing Beach management team will remain following the transaction and have elected to become shareholders in Acrisure upon completion.
Aquiline is a longstanding client of the firm’s London corporate insurance team, which acted for Aquiline on the original acquisition of Beach in November 2014. With a US buyer wanting New York law transaction documents in relation to a UK target, Norton Rose Fulbright was able to use the firm’s transatlantic cross-border M&A capability, with its New York office leading on the deal documents, working in close collaboration with the firm’s London insurance and other teams.
The Norton Rose Fulbright team included partner David Barrett (corporate, New York) who led the US aspects of the deal with assistance from associates Sal Favuzza and Christopher Cash. Partner Nicholas Berry (corporate insurance, London) led the UK aspects with assistance from senior associates Caroline Kearns (London) and Agnieszka Braciszewska (providing support to London from our Warsaw office). Partners Dominic Stuttaford (London), Michael Flamenbaum (New York) Matt Findley (London) and senior associate Ann Mosley (London) advised on tax and incentive issues. Senior counsel Carey Child (Washington) assisted with US regulatory aspects. The team also drew on the resources of the firm’s Canadian tax group including partner Derek Chiasson.
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