Howden Buys M&A Insurance Broker Atlantic Group in US Expansion

UK insurance broker Howden agreed to buy M&A protection specialist Atlantic Group as the City firm presses ahead with a rapid expansion in the key US market.

Atlantic Group’s founders — Richard French, Joe O’Brien and David Haigh — will reinvest a “substantial portion” of their equity to become shareholders of Howden, according to a statement Monday. The deal values Atlantic Group, which was founded in 2017 and has over 110 staffers, at more than $500 million, a person familiar with the matter said, asking not to be identified as the information is private.