Howden close to huge takeover deal and set for ‘£23bn stock market float’

Howden is reportedly closing in on a US takeover deal that could pave the way for a $30bn (£23.2bn) stock market float.

According to Sky News, the British broker is targeting a binding agreement to acquire US-based rival Risk Strategies for $10bn (£7.7bn) by the end of this month.

This would be financed in part by a share sale that could be worth in the region of $4bn (£3.1bn).

If complete, new equity invested in Howden would see the broker receive an aggregate valuation for the combined group of about $30bn (£23.2bn), Sky News added.

Experts also told the publication that such a deal would eventually lead to a US stock market listing in between one and three years’ time, with 2027 the most likely date.

Financial result

This comes after Howden managed to break the £3bn revenue barrier in its last financial year, with it securing double-digit organic growth.

In a trading update published in February 2025, the broker said its adjusted revenue sat at £3.01bn in the year to 30 September 2024, up from £2.44bn the previous year.

The group’s adjusted consolidated earnings before interest, tax, depreciation and amortisation (ebitda) also showed growth, increasing to £922.2m from £780m year-on-year.

David Howden, founder and chief executive at Howden, said he was “incredibly excited about the future”.

He added: “Looking ahead, we will continue to capitalise on our stellar track record, retaining our focus on strong organic growth, strategic M&A, investment in talent and operational excellence. In so doing, we will be able to grow even faster, ready to meet our ambitious plans.”