Dentons in Australia has advised UK based insurance broker Ardonagh on its agreement to acquire Envest, an insurance investment and distribution business based in Brisbane, Queensland. Envest will operate as part of Ardonagh Global Partners, which is led by CEO Des O’Connor.
Lead Partner Alex Eyre (Adelaide) said “We were proud to advise Ardonagh on its entry into the Australian market early last year, and have been delighted to continue to support Ardonagh’s M&A growth strategy here. It is a privilege to advise Ardonagh as they continue to consolidate and grow their platform in the Australian market and start this new and exciting chapter with Envest.”
Commenting on the announcement, Ardonagh CEO Des O’Connor said: “This is a hugely complementary acquisition, aligning neatly with our Group’s footprint both globally and in the Australian market, which has grown substantially since our maiden investment in Resilium in February 2021. It provides a proven platform to accelerate our growth ambitions in the region.”
Dentons advised Ardonagh on all aspects of the transaction to signing. This included the negotiation of the transaction documents, due diligence, regulatory matters, and equity and debt funding arrangements. Dentons will continue to advise Ardonagh through to completion of the transaction. Counsel for one of Ardonagh’s major shareholders advised on foreign investment clearance.
Playing critical roles were Alissa Pfitzner (General Counsel, Ardonagh Global Partners), Caroline Snow (Partner, Brisbane), Jay Nguyen (Special Counsel, Adelaide), Kyla Brose (Senior Associate, Brisbane) and Jack Williams (Associate, Adelaide) assisted by a wider team.