Scotto Partners advises the management of Siaci Saint Honore group on the merger with Burrus group, creating the new independent European leader in insurance consulting and brokerage

Press Release

The management of SIACI SAINT HONORÉ Group, collectively the majority shareholder of the independent French insurance brokerage firm, and Christian Burrus, the majority shareholder of DIOT and LSN, have signed an agreement to create the leading independent European insurance broker operating around the world.

Under the terms of the agreement, Ontario Teachers' Pension Plan will join the consortium as the lead institutional investor, alongside Bpifrance and Cathay Capital as co-investors. This consortium will then replace anchor financial sponsors Charterhouse Capital Partners and Ardian, who will sell their stakes in the capital of Siaci Saint Honoré Group.

The new group will be chaired by Pierre Donnersberg, current CEO and founder of Siaci Saint Honoré, while Christian Burrus will serve as Managing Director.

Scotto Partners worked with Siaci Group's management in designing a unique partnership with Christian Burrus to jointly hold the majority of the capital and voting rights in the newly created Group, as well as in the negotiations with the new financial partners in the investor pool. Scotto Partners also devised the new management package intended for the key executives of the newly created group.

Pierre Donnersberg commented: "We share common values and a wealth of opportunities. This merger will generate new possibilities and the implementation of ambitious growth plans built on large business synergies."

Christian Burrus added: "The family shareholding values that drive me remain at the heart of this project: they preserve our independence and guarantee it in the long term in the interest of our teams, our clients and our investors."

With this merger, the new Group will strengthen its market position in France and internationally in the large company, mid-cap and SME market segments, in employee benefits, international mobility, property and liability insurance, marine and transport insurance, credit insurance and reinsurance.

It will be one of the top 10 global players in the sector, with a turnover of approximately €700 million and close to 5,000 employees in over 40 countries.

The Scotto Partners team was composed of Lionel Scotto le Massese (partner) and Adrien Badelon (partners) and Rosa Oudni and Caroline Vieren (associate) as to corporate matters, Jérôme Commerçon (partner) with Martine Le Roux and Loic Pipaud (associates) for the tax-related aspects, and Bertrand Thibaut (counsel) and Alban Tourneux (associate) on employment law matters.