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Private equity-backed Lloyd’s broker SSL Endeavour Ltd. has completed its acquisition of Saratoga Springs, New York-based specialty aviation brokerage and managing general agency Worldlink Holdings LLC.
Jonathan Palmer-Brown, SSL Endeavour Group non-executive chairman, and Group CEO David Lawrence will join Worldlink’s Chairman and joint CEO Charles Engel and President and joint CEO Phil Gingell on the board of Worldlink Holdings, SSL Endeavour said in a statement issued Monday.
Mr. Gingell was formerly executive chairman of JLT Aerospace North America, Worldlink said.
The deal will position Worldlink to “respond rigorously to the many current challenges facing our clients in today’s aviation industry,” Mr. Engel said in the statement.
SSL Endeavour Group was formed in August 2018 when specialist marine broker SSL Insurance Brokers merged with delegated authority specialist Endeavour Insurance Services Ltd. in a deal backed by New York-based private equity firm J.C. Flowers & Co.
There have been 280 announced transactions within the insurance distribution space through June, compared with 283 announced transactions over the same time period in 2018, according to a report from analysts Marsh Berry Capital Inc. released Thursday.