US insurance giant Aon completes Henderson acquisition
COMPLETED: Founder Joe Henderson has overseen the buy-out of Henderson Insurance Brokers Ltd by Aon.
By Scunthorpe Telegraph | Posted: 6 Dec 2017
US giant Aon has completed the buy-out of Henderson Insurance Broking Group, as it seeks to grow its UK footprint.
Founded by Joe Henderson in Scunthorpe town centre 31 years ago, it is now a £30 million business with a central administration base in Kirmington and headquarters in Leeds, employing more than 400 people across 16 offices.
Following an agreement announced in October, the company will now become part of the New York Stock Exchange-listed company’s Aon Risk Solutions UK division, which provides services to clients across an expansive range of industries and specialisms.
Mr Henderson, chief executive, said: “We’re delighted to be joining Aon, which brings a wealth of opportunities for our colleagues and enhanced solutions and services for our clients.”
An undisclosed deal, Aon has described the buy-out as “the latest example of Aon’s ongoing commitment to allocate capital to high-value solutions that address emerging client needs, sharpen the firm’s focus on delivering advice and solutions, and strengthen its global footprint”. Specifically, it said it was increasing its footprint in the mid-market and specialist sectors.
ADMIN BASE: Henderson's office on Schipol Way, Humberside Airport Business Park.
Describing Henderson as a highly-regarded, independent UK-based insurance broking firm, Julie Page, chief executive of ARS UK, said: “I am excited to be working with Joe and the leadership team at Henderson to bring the best of both of our organisations to our clients.”
Aon has already confirmed that there are “no plans to make significant changes to the business,” formed when Mr Henderson realised there was a gap in the market while working in construction for Peter Birse at Barton.
Back in October he said he had “no doubt that the talented people within our organisation will seize the opportunity to develop their careers within a firm of Aon’s stature”.
Grimsby-headquartered law firm Wilkin Chapman advised Henderson on the deal, with partner and corporate specialist Ian Sherburn supported by Peter Hanson, Jane Eatock, Adam Aisthorpe, Adam Ottley and Tom Rook.
He said: "Once again we have demonstrated our ability to deliver an excellent result for our clients, with our expertise equal to any city law firm offering. Particular thanks to Ian Lamb and his team at Smailes Goldie accountants who assisted on certain financial aspects. Above all, we are delighted for Joe and all the shareholders of HIBL.”
Biomass supplier's technology and transport investments will bolster growth plans