HPS and Madison Dearborn to buy Ryan Direct

Towergate owners HPS Investment Partners and Madison Dearborn
Partners are in advanced talks to buy Ryan Direct Group,
The Insurance Insider understands.
The private equity firms are understood to be hoping to seal the
deal as early as next week.
HPS and Madison Dearborn have made a number of investments in
recent months. Last year HPS bought Broker Network from Towergate
for £46mn, and both firms became major shareholders in broker
Autonet.
The news was first reported by Insurance Age....