PSC Insurance Group goes public

A global firm has advised on the IPO of an insurance intermediary business.

Felicity Nelson • 31 December 2015 • Big Law

Firms: DLA Piper (PSC Insurance Group)

Deal: PSC Insurance Group launched a $43 million initial public offering and listing on the ASX.

Area: IPO

Value: $43 million

Key players: The DLA Piper team was led by partners Catherine Merity (pictured) and Samantha O'Brien, supported by senior associates Rosamond Sayer and Matthew Parkinson and solicitors Alexander Samson, Elizabeth Clare and Rube Uthayakumar.

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Deal significance:

According to a release by DLA Piper, the PSC Group is an insurance intermediary business comprising a portfolio of businesses ranging from start-ups to mature businesses across Australia, New Zealand and the United Kingdom.

Founded in November 2006, PSC Group initially owned a single general insurance broking business and has since grown, operating 21 separate businesses.

The transaction also involved the roll-up acquisition of minority interests in 21 subsidiaries concurrently with the IPO, in addition to three pre-IPO acquisitions of insurance services businesses.

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