Hyperion takes on $115m of debt to fund further acquisitions


Hyperion is to continue on the acquisition trail, having raised $115m (£88.9m) through debt.

The additional $115m (£88.9m) raised brings the broking group’s total reported borrowings to £1bn, according to ratings agency Moody’s.

The fresh proceeds can be used to fund acquisitions, purchase minority interests, repay credit facilities or pay deferred consideration obligations. However, Post understands that Hyperion will use the funds for future acquisitions.

The B2 senior secured term loan ratings rating assigned to Hyperion by Moody’s remains unchanged.

An announcement by the ratings agency said: “The B2 CFR rating reflects the company’s strong market presence in its chosen niche segments, its strong diversification across geographic regions and business lines, very good Ebitda margins and a track record of robust organic growth. In Moody’s view, these strengths are tempered by the group’s weak bottom line profitability, inherent risk associated with the Hyperion’s active acquisition strategy, significant financial leverage and rising outstanding financial debt obligations.”

Canadian fund manager CDPQ invested $400m in Hyperion in December last year, which gave it an estimated shareholding of between 25% and 30%

The broker entered 2018 with a $300m (£231.8m) war chest for acquisitions, Hyperion chief financial officer Oliver Corbett told Post in January. The broking group planned to focus on businesses in Latin America and other emerging markets.

In April it expanded its operations in Turkey when its retail broking arm Howden took a majority stake in broker ACP.

  • LinkedIn  
  • Save this article
  • Print this page  

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: