Clifford Chance

Clifford Chance advises Equistone on A-Plan Insurance sale

International law firm Clifford Chance has advised one of Europe’s leading mid-market private equity investors, Equistone Partners Europe Limited (“Equistone”), on its agreement to sell its majority holding in A-Plan, a UK based, independent insurance broker, to HgCapital.

Equistone first backed the management team of A-Plan's Oxfordshire-based business which provides products from a wide range of insurers, in a primary buyout in 2008. Since then the company has realised strong growth, increasing revenues from £44m in 2008 to around £73m for the financial year ending February 2015. During its investment period, Equistone worked alongside A-Plan’s management team to develop the business, opening 19 new branches and increasing headcount by 380 to over 970 employees.

 A-plan currently operates 73 branches nationwide, and serves over 580,000 policyholders.

The Clifford Chance team advising Equistone was lead by Partner Amy Mahon, with support Partner Ashley Prebble, Senior Associate Christopher Sullivan and Associates Lachlan Low and Amy Cheuk.