Ardian, Edmond de Rothschild exit Siaci Saint Honore

The transaction will see the management team, led by Pierre Donnersberg, hold a majority stake in the group.

Charterhouse will become a minority stakeholder in the business.

Previous funding
Ardian bought a majority stake in the business in 2015, investing via Ardian LBO Fund V.

Jardine Lloyd Thompson sold its 26.2% stake in SSH – via the holding company Milestone – to Ardian for £82.1m. SSH's management and employees held onto a 15% stake in the company following the deal, while Edmond de Rothschild retained a 20% shareholding. According to reports in the French press at the time, the deal valued SSH at €520m including debt.

Company
Founded in 1932, SSH is an insurance brokerage and consulting service, supporting large and mid-cap companies in the management of their property and personal insurance risks in France and abroad.

Its services include risk management advice to the piloting and management of insurance schemes, among others. The firm currently counts more than 2,500 employees worldwide, and generated a premium income of around €322m in 2017. The business is based in Paris.

People
Ardian – Philippe Poletti (head of the buyout activity); Yann Bak (managing director); Edouard Level (senior investment manager).
Siaci Saint Honore – Pierre Donnersberg (chairperson).

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• Topics
• Buyouts
• Exits
• France
• Financing
• France
• Charterhouse Capital Partners
• Ardian (formerly Axa PE)
• Secondary buyout