AnaCap Financial Partners, a specialist private equity firm focused on investing in the European financial services sector, has announced that its portfolio company, MRH Trowe, has acquired Olfen-based speciality broker Helmig & Partner.
The deal marks the 11th bolt-on acquisition of the year for MRH Trowe, which is itself an owner managed commercial lines insurance broker in Germany.
Helmig & Partner is the nationwide leading speciality broker for bakery chains, currently serving more than 300 clients in the sector with 44 employees and a wide range of pension and non-life insurance products.
Expected to close in January 2022, this latest acquisition supports MRHT’s strategy to expand in-house capabilities in specialty lines insurance and strengthen its geographical coverage.
In Helmig & Partner, MRHT says it has identified the right add-on to complement its customer target group and consolidate its presence in Western Germany.
The acquired company, whose founding managers will remain operationally involved in line with MRHT’s historical M&A approach, is expected to contribute €5 million of revenue to the Group in 2022.
“We are delighted to announce another acquisition for MRHT with Helmig & Partner,” said Ralph Rockel, Co-Founder and Board Member at MRH Trowe. “We are bringing onboard a highly respected and well recognised specialist in the field of bakery insurance.”
“This acquisition will help strengthen the Group on many aspects in its ambition to offer a broad and diversified range of products and specialty under a client-centric, holistic approach,” Rockel continued. “To complete 11 bolt-on acquisitions since December last year is a very impressive track record for MRHT and AnaCap as a partnership and we look forward to updating the market on new developments as we head towards 2022.”
Tassilo Arnhold, Private Equity Partner at AnaCap, also commented: “We are extremely pleased with our partnership with MRH Trowe and the acceleration in M&A execution experienced over the last year. As we head towards 2022, we will continue to focus on delivering organic growth complemented with targeted buy-and-build in the rapidly consolidating German commercial lines insurance brokerage market.
