Private investment firm Aquiline Capital Partners has closed its investment in Quintes Holding, one of the largest independent insurance brokers in the Netherlands.
No financial terms were disclosed.
The broker will maintain its corporate headquarters in Culemborg under the continued leadership of the existing management, including CEO Gijsbert van de Nieuwegiessen and CFO Alex Klooster.
KPMG served as financial advisor to Quintes while De Brauw Blackstone Westbroek served as legal counsel.
ING served as financial advisor to Aquiline in this transaction, and Stibbe served as legal counsel.
Quintes was founded in 2012 and has since built a national footprint of brokers with a focus on serving the Dutch SME sector.
“The Dutch insurance market presents significant opportunities for continued growth, M&A activity and the need for a dedicated, technology-enabled SME broker,” said Jeff Greenberg, Chairman and CEO of Aquiline.
“We are excited to back Gijsbert and his team as they continue to extend the Quintes proposition into new classes, customer segments and regions of the Netherlands.”
“Quintes has worked hard to build its position in the Dutch market, and we are proud of what our 360 employees have helped build for our 100,000 customers,” Nieuwegiessen added.
“As we continue on our aim to develop our footprint across the country, we are excited to partner with Aquiline, whose deep network in insurance and technology and commitment to our mission will help to expand our portfolio, drive innovation and build on our relationships with the SME customers and carriers who have brought us this far.”
