DLA Piper Advised Steadfast on Acquisition of US Insurance Broker Network ISU Group
DLA Piper advised Steadfast Group, a general insurance broker network, on its acquisition of ISU Group, a privately-owned
DLA Piper Advised Steadfast on Acquisition of US Insurance Broker Network ISU Group DLA Piper advised Steadfast Group, a general insurance broker network, on its acquisition of ISU Group, a privately-owned US-based insurance network, for US$55 million. Steadfast Group is Australasia's largest general insurance broker network and group of insurance underwriting agencies, with...
DLA Piper Advised Steadfast on Acquisition of US Insurance Broker Network ISU Group
DLA Piper advised Steadfast Group, a general insurance broker network, on its acquisition of ISU Group, a privately-owned US-based insurance network, for US$55 million.
Steadfast Group is Australasia's largest general insurance broker network and group of insurance underwriting agencies, with growing operations in Asia and Europe.
ISU Group, a South Carolina-based insurance agency network, is one of the largest in the US. It works with 75 insurers and wholesalers, encompassing 220 members and partnerships in over 40 states. The acquisition will give Steadfast Group a foothold in the North American market, including the US.
“We were pleased to work with Steadfast and combine our deep M&A and insurance industry experience to bring this deal together. This landmark acquisition establishes Steadfast’s US foothold and positions it for growth in the Americas region,” said Matthew Gorra, the DLA Piper partner who led the deal team.
Global Insurance co-chair and U.S. Steadfast relationship partner Aidan M. McCormack added: “The splendid and quick work of our team demonstrates DLA Piper’s powerful capabilities in and continued commitment to the whole insurance sector – M&A, Regulatory and Disputes.”
In addition to McCormack (New York) and Gorra (Baltimore), the DLA Piper team included Australia relationship partner Samantha O'Brien, partners Stephen Schwab (Chicago), Sarah Tauman (San Francisco), and Julia Kovacs (Baltimore), senior counsel Peter Rice (Boston), and associate Brendan Kelly (Baltimore).
With over 1,000 corporate and regulatory lawyers globally, DLA Piper helps insurance clients execute complex transactions seamlessly across all stages of development. The firm has been ranked number one in global M&A volume for 13 consecutive years by Mergermarket, as a top five most active VC legal advisor in the US and number one in VC, PE, and M&A in combined global deal volume by PitchBook.