DLA Piper advises Steadfast Group on acquiring a majority stake in the global unisonSteadfast network

DLA Piper has advised Steadfast Group Limited (Steadfast Group), the largest general insurance broker network in Australasia, on its acquisition of a 60% stake in unisonSteadfast AG, the largest global network of independent insurance brokers. Shareholder AdVertum AG Versicherungsmakler transferred its complete stake to Steadfast Group. Wolfgang Mercier, Founder & CEO of unisonSteadfast AG, who also sold down a portion of his shareholding, will continue to lead the organisation.

The transition of shares was supported and welcomed by the existing unisonSteadfast AG shareholders and Board. This strategic step signals the next evolution in the successful alliance of both networks, with plans to realise the potential opportunities that exist for both parties. It solidifies the mutual commitment to growing the global distribution platform for both unisonSteadfast AG and Steadfast network brokers.

Steadfast Group, established in 1996, provides services to broker businesses across Australia, New Zealand, Asia and London. In 2020, Steadfast Network brokers and underwriting agencies generated billings of more than AUD$10 billion. Steadfast Group also operates as a co-owner and consolidator through its equity interests in a number of broker businesses, underwriting agencies and other complementary businesses.

unisonSteadfast AG, based in Hamburg, Germany and Chicago, USA, is represented in over 140 countries and generates US$30 billion of gross written premium. Since their Joint Venture in 2017, both networks have formed an alignment of over 750 insurance brokerage firms worldwide.

The DLA Piper Cologne-based Corporate team was led by partner Jan Eltzschig, assisted by counsel Heike Schmitz, senior associate Marjel Dema and associate Janis Rentrop.