04.10.2023  Walter Baden advises RSK on acquisition of a majority stake in Adenco

AFA acquires All Risk Protection

Walter Baden has acted for accident & health underwriter AFA Insurance on its acquisition of Sydney-based insurance broker, All Risk Protection. The team of Steven Humphries, Kien Ng and Laura Mullen assisted AFA with due diligence and documentation of the deal, which was transacted by way of acquisition of business assets. Walter Baden previously assisted AFA with a series of finance and capital management projects, most recently a selective buy-back of minority shareholdings.

Walter Baden advises on sale of MB Prestige

Walter Baden congratulates the owners of MB Prestige Holdings Pty Ltd (MB), an independent prestige motor vehicle underwriting agency, on the sale of their interest in that company to ATC Insurance Solutions Pty Ltd. In addition to providing an opportunity for UK private equity investor B.P. Marsh  & Partners Plc to consolidate its interests in both entities and for some of MB’s longstanding management shareholders to exit, the transaction creates one of Australia’s largest independent underwriting agencies. MB’s Managing Director, Daniel McNamara, continues in his role post-merger.

ATC agreed to acquire MB for $17 million, with consideration being paid in a combination of cash and equity.

The Walter Baden team, led by Steven Humphries, advised MB owners on all aspects of the sale.