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.
Terms of the transaction were not disclosed.
Lockton Chairman David Lockton said the agreement completes an important phase in Lockton’s growth. “Stone Point Capital has been a valuable partner in building Lockton’s global client capabilities,” he said. “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, said, “We have enjoyed our partnership with Lockton, Mike Hammond, and the other members of the management team of Lockton International. 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.”
Corporate advisory firm Perella Weinberg Partners represented Lockton in the transaction. Evercore Partners advised Stone Point Capital. Sheppard Mullin Richter & Hampton LLP acted as legal advisers for Lockton and Debevoise & Plimpton LLP acted as legal advisers for Stone Point Capital.