Howden acquires Seasecure
Paris (France), 5 October 2022,
Financière de Courcelles has advised Howden Group to acquire Seasecure, the last remaining independent marine broker in France. This operation represents the third acquisition in France for Howden Group after CRF Conseils (Financial Lines specialist) in July 2022 and Théorème (Motor fleet, IARD and Employee Benefits broker) in October 2022.
Founded in 1994, Howden Group is a leading international insurance distribution group with core activities of retail, specialty and reinsurance broking. With more than 12,000 employees, the company is headquartered in the United Kingdom and operates in 90 countries and 45 companies held in Europe, Asia, Africa, Latin America, Pacific and Middle East.
Howden Group established in France in February 2022 following the appointment of Nicolas Aubert, ex-director of AIG France and ex-director of Willis Tower Watson UK, as CEO of Howden France. The group aims to become one of the leaders of the French brokerage market and a European alternative to the large North American companies on all the B2B insurance products.
Founded in 2008 and headed by Jean Brossollet, Seasecure comprises two operating entities, Seasecure and Guian, having acquired the latter, a Le Havre-based marine broker, in 2018. Together, Guian and Seasecure serve shipowners, charterers, operators, and all actors in the supply chain. Guian’s expertise is particularly recognised in the fields of merchant and service vessels, inland waterways and French & international fisheries insurance.
This latest transaction follows Howden France’s recent acquisitions of C.R.F. Conseils and Théorème, reflecting its strategy to materially broaden its product offering and to deliver more choice for French clients. These partnerships also accelerate the delivery of Howden’s global specialty expertise into local markets.
Nicolas Aubert, CEO, Howden France, comments: « Seasecure and Guian provide the talent, technical knowledge and skills that will allow us to both expand and enhance our platform in France. Their specialist positioning is perfectly aligned with our strategy for Howden France. Building on the acquisitions of C.R.F and Théorème, this latest deal reaffirms our ambition to build a platform based on leading experience and expertise, which will welcome the best talents in the French insurance market. »
Jean Brossollet, General Manager, Seasecure, says: « Howden’s ambition is to be one of the leading brokers in France, with a strong presence in the country and a range of services in the “specialties”. By combining our expertise and our energy to develop an ambitious – and necessary – alternative in the French market, we will be able to offer our clients a comprehensive range of services. With the acquisition of Seasecure and Guian, Howden is laying the foundations of a Marine branch that will be significant in France. This combination opens up tremendous opportunities for our clients and our teams! »
The FDC team is delighted to have supported Howden Group in this third acquisition. This mission reflects FDC’s specific M&A approach which combines (i) strong sector expertise and (ii) advisory services to large corporate groups in their multi-buy-side growth strategy.
STAKEHOLDERS IN THE OPERATION
Howden Group side:
- Company: Howden France (Nicolas Aubert, Adrien Laplane) ; Howden Group Corporate Finance and Legal (Dimitri de Lamazière, William O’Grady, Steph Ayre)
- Financial advisor: Financière de Courcelles (Michael Petit, Bertrand de Saint Remy, Dominique Guerit, Charles Delbarre, Hamza Lahna)
- Legal advisor: Gide Loyrette Nouel (Hugues Scalbert, Pierre-Guillaume Sagnol)
- Financial due diligence: Mazars (Zied Loukil, Jessy Coulon, Andres Roldan Diaz)
- Tax due diligence: Mazars (David Chrétien, Valentin Scotti Volpe)
Seasecure side:
- Company: Seasecure (Jean Brossollet)
- Financial advisor: Somexo (Myriam Cheloua, Bernard Robbino)
- Legal advisor: Jaberson Avocats (Charles Jamet, Damien Billet, Clémence Bonifacio, Astrid Samuelian, Maxime Santucci)
< Our transactions