Allen & Overy advises Cinven on acquisition of Säkra
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Allen & Overy is advising Cinven on its acquisition of Swedish insurance broker Säkra from Adelis Equity Partners. Swedish law firm Vinge also acted as legal counsel to Cinven.
Founded in 1990, Säkra is one of Sweden's largest insurance intermediaries, providing life and non-life insurance products, as well as pension and wealth management services, to more than 35,000 SME clients and more than 115,000 individual customers. Säkra has more than 60 offices across Sweden and employs approximately 350 people.
The acquisition is the fourth investment by Cinven’s Strategic Financials Fund (“SFF”) and the second transaction in which Allen & Overy has advised SFF, with the first transaction being SFF’s acquisition of the Compre Group in April 2021.
Partner and head of A&O’s insurance group Philip Jarvis commented: “We are proud to be working with Cinven again on this significant acquisition which marks a further investment from Cinven’s Strategic Financials Fund. This deal is a great example of the combined market-leading insurance and private equity expertise we have within our team to advise on complex and high-value transactions in this space.”
The A&O team was led by partner Philip Jarvis, partner Vanessa Xu and senior associate Chris Sabine with assistance from senior associate Tiffany Liow and associates Louise Innes-Wilkin, Felix Jiang, Dhruv Mairal and Sykes Mitchell.