Altor divests stake in Max Matthiessen
Global risk adviser, insurance and reinsurance broker Willis acquires 75% of the shares in leading financial advisor Max Matthiessen for SEK 1,357 million and becomes new principal owner of the company in a deal which sees Altor Fund III sell its 50% stake in Max Matthiessen and employee shareholders sell a 25% stake while retaining a stake of 25%. The transaction is subject to customary regulatory requirements and approvals.
After completion of the transaction, Max Matthiessen, founded in 1889, goes from being a Swedish company with 23 offices and 400 employees to being part of a global network of 400 offices and 18 000 employees. Altor Fund III acquired Max Matthiessen in 2009.
Altor Fund III was advised by Mannheimer Swartling in the transaction. The firm’s team included Åke Kjellson, Henrik Johansson, Jonas Lagerroos and Mikael Sandy.