HPS and Madison acquired a minority stake in The Ardonagh Group for $117m.

Investment funds managed by Madison Dearborn Partners and HPS Investment Partners have acquired shares in The Ardonagh Group for a total consideration of £92m ($117m) (of which £82m ($104m) from MDP and £10m ($13m) from HPS) from certain existing institutional investors and other minority shareholders. “Alongside HPS, we are pleased to affirm our commitment to the Ardonagh platform, and we are excited about the strong trajectory of the business as it keeps strengthening its position as a leading independent insurance broking platform in the UK. Ardonagh remains a unique investment opportunity, given its talented management team and diversified portfolio of brands and leading positions in niche markets across a broad spectrum of insurance sectors.” Vahe Dombalagian, Managing Director and Co-Head of the MDP Financial & Transaction Services team.