Lockton Consolidates International Operations with Trident III Buyout

Insurance broker Lockton announced that it has acquired the minority stake in its operations outside the U.S. held by Trident III, L.P., an investment fund managed by Stone Point Capital LLC of Greenwich, Connecticut.

The bulletin explained that Stone Point Capital and the Trident fund “provided financial and strategic support to Lockton when it acquired the international operations of Alexander Forbes in 2006.” Trident III is an in investment fund originally established by MMC Capital, a unit of the Marsh & McLennan companies. MMC’s Marsh division completed the acquisition of the rest of Alexander Forbes in January.

The terms of the transaction between Lockton and Stone Point Capital/Trident III were not disclosed.

Lockton Chairman David Lockton indicated that the transaction completes an important phase in Lockton’s growth. He described Stone Point Capital as “a valuable partner in building Lockton’s global client capabilities. Their support has been outstanding, and we look forward to accelerating our growth in the next stage of our development.”

Lockton President and CEO John Lumelleau added: “Consolidated ownership allows us to integrate all of our operations globally, so we can focus on our three key constituencies: our clients, our Associates, and our communities.”

James D. Carey, Senior Principal of Stone Point Capital and Investment Committee Member of the Trident Funds indicated that the company had enjoyed its partnership with Lockton and the members of the management team of Lockton International.

He added that “over the past six years, Lockton International has made tremendous progress in building out its capabilities and scope of operations. We wish the international team continued success in the future as an integral part of the Lockton global organization.”

Source: Lockton