Milbank LLP has advised Acturis and its shareholders, including co-founders Theo Duchen and David McDonald, on Astorg’s acquisition of an increased stake in the company. Astorg will now own approximately 52% of the capital of Acturis. Alongside Acturis management and colleagues, the co-founders will remain significant shareholders with a sizable minority stake and will continue to partner closely with Astorg to support existing clients and drive the company’s international growth.
The Acturis Group was founded in 2000 with the ambition to become the leading SaaS provider for brokers, insurers, and Managing General Agents (MGAs) across the general insurance market. The company employs 1,200 colleagues across seven countries, supporting over 100,000 individual users in more than 40 countries. The company, which has won multiple industry awards for its products, has seen strong organic and inorganic growth in recent years, following expansion into Germany, France, Canada, Ireland, and the United States, in addition to the development of industry leading products and services to meet the growing demand for electronic trading of insurance policies.
The Milbank team was led by partners Jordan Simpson, Paul Buchan, and James McClymont (all Corporate/M&A) and included associates Daniel Carolan, Gary Chu, Sophie Hofford, Drew MacDonald, Catriona Mather, and Lucy Reville (all Corporate/M&A) along with trainee George Widdicombe (also Corporate/M&A).
Specialist input was provided by partner Ajal Notowicz and special counsel Moritz Lichtenegger (both Antitrust), alongside partner Alan Rafferty (Tax).
