Deal took a month to complete

Broking group Hyperion has completed its acquisition of Lloyd’s broker Windsor.

The closure of the deal follows the receipt of regulatory approval for Hyperion to buy Windsor from its management, employees and institutional shareholder Hutton Collins Partners.

Hyperion chief executive David Howden said: “I am delighted that we have received regulatory approval, and that there has been only a month between exchange and completion of the deal.

“There has been an enormous amount of hard work done in preparing the application to the regulators and meeting their criteria, and that hard work now means we can expedite the process of integrating the businesses.I would also add that we found the regulators to be constructive throughout the application process.”

Windsor chief executive John Bennett will lead the London broker businesses of the combined Hyperion/Windsor group. He will report to Tim Coles, chief executive of Howden Brokng Group, Hyperion’s core broking operation.

Bennett said: “The focus is now sharply on integration.  We are working to bring the businesses together as effectively as possible, to ensure that our clients are receiving the benefits of our combined product portfolio and global distribution network, and that our front and back office operations are aligned.

“There is much to be done, but the complementary capabilities and cultures mean that we are on the front foot and working together already.”