Law firm Hill Dickinson has advised investment vehicle Innovisk Capital Partners on sale of the business to Chicago-headquartered Ryan Specialty, a leading international provider of specialist insurance services. The company was previously owned by private equity partners Abry Partners and BHMS Investments.
Founded in London in 2017, Innovisk consists of a diverse portfolio of seven specialty managing general underwriters. Its lines of business include environmental, transactional liability, US and international financial lines, professional liability for lawyers, commercial auto liability and UK professional indemnity and property and casualty. Outside of London, Innovisk also has offices in the United States, Belgium, Germany and India.
To date, the company has distinguished itself in the small to middle market segment, providing technology-driven, ‘digital-first’ capabilities across a range of specialist services spanning underwriting, distribution and operational efficiency.
Innovisk generated approximately USD 58 million of operating revenue for the 12 months ended 31 July 2024.
Corporate partner Shantanu Sinha, of Hill Dickinson’s Private Equity team, led on the provision of legal advice to Innovisk, supported by partners Luke Green (Employment) and David Klass (Tax) plus senior associate Emily Rawlins, associates Danielle Higgins and Sanne Gerdsen and paralegal, Rayona Basu (all corporate).
The joining together of these two complementary and highly ambitious businesses is set to create a very compelling opportunity for future growth. We wish the management team every success for the future.Shantanu Sinha
Partner
Shantanu Sinha said: “It’s been an incredible journey working alongside our longstanding client, Innovisk. We have acted as its legal adviser since 2020, firstly to prepare the business for disposal and then to advise Innovisk and its management in respect of its initial disposal in 2021 by Willis Towers Watson to Abry and BHMS. We advised again now as the business is launched into a potentially much larger market as part of the Ryan Specialty family. The joining together of these two complementary and highly ambitious businesses is set to create a very compelling opportunity for future growth. We wish the management team every success for the future.”
Simon Tyler, former Global CFO of Innovisk, added: “The team at Hill Dickinson, led by Shantanu Sinha, was critical to the timely execution of this transaction. Shan managed this transaction with the leadership, humility and compassion needed to get the job done. The Hill Dickinson team worked as an extension to our own team; always responsive and quick with their sense of humour that was greatly appreciated by the Innovisk team. They were focused throughout on the myriad deliverables to ensure everything was completed on time. More broadly, Shan has always proved himself to be a valuable partner to Innovisk, providing strategic counsel and support all along our journey.”