London team advises Kentro Capital Limited on its sale to Brown & Brown

Global law firm Norton Rose Fulbright has advised Kentro Capital Limited (Kentro) on its sale by shareholders to a UK subsidiary of Brown & Brown Inc (Brown & Brown).

Subject to regulatory approval, Brown & Brown has agreed to acquire the entire issued share capital of London-headquartered Kentro from its shareholder groups.

Kentro - which includes companies Nexus, Xenia, Millstream, Capstone Brokers and Spectrum Risk Management – manages over £500m of gross written premium across its global and cross-border operation, with a team of more 350 insurance professionals operating from offices in the UK, US, Europe, Asia and Dubai. 

Brown & Brown is a US-headquartered international insurance broking firm that delivers insurance and risk management solutions to individuals and businesses, and has more than 15,000 people in 500 plus locations worldwide.

The transaction is expected to close in the fourth quarter of 2023. Kentro and its individual businesses will continue to trade and operate as they have historically, with the same leadership team, brand and market focus. 

The London-based Norton Rose Fulbright team was led by Matt Foster, supported by David Bartlett, Adam Murphy, Zahra Sachedina, Alex Grant and Simeon Pavlov. Specialist advice on tax was provided by Dominic Stuttaford, supported by Sofia Casselbrant-Multala and incentives by Matthew Findley, supported by Barbara Gaffey.

Matt Foster said:

“We are very pleased to advise on this pivotal milestone in Kentro’s development, which will enable Kentro shareholders, including a significant number of employee shareholders, to share in the transaction upside as the company establishes itself for the next exciting phase of its growth and development.” 

Norton Rose Fulbright’s global corporate, M&A and securities practice advises corporations and financial institutions across the full spectrum of industry matters including public takeovers, private M&A, joint ventures, disposals, debt and equity capital markets, governance, general commercial and corporate advisory matters.