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Nordic Capital to acquire Max Matthiessen from WTW

26th May 2020 - Author: Luke Gallin

Nordic Capital, a leading investor in the financial services sector, has announced the acquisition of Max Matthiessen from global insurance and reinsurance broker, Willis Towers Watson (WTW).

handshakeMax Matthiessen is one of the leading financial advisors within pensions, insurance and investment in the Nordic region. Established in 1889 and headquartered in Stockholm, the firm has been active in the insurance space for over 130 years.

The company’s products include occupational pensions, asset management and non-life insurance, with revenues of €148 million in 2019.

The acquisition sees Nordic Capital invest in Max Matthiessen’s continued product development and enhance its organisational capacity, with the firm expecting to support Max Matthiessen’s expanded customer offering and its next phase of sustainable growth and innovation.

Christian Frick, Partner and Head of Financial Services, Nordic Capital Advisors, said: “Max Matthiessen has a high-quality, talented team and is one of the leaders in the Nordic region. The Company fits perfectly within Nordic Capital’s sector focus and strategy for Financial Services. Nordic Capital is excited to partner with Max Matthiessen to support the Company’s growth journey.

“Going forward, the joint focus will be on scaling Max Matthiessen’s operations and investing in organic as well as acquisitive growth. Together with the Company, Nordic Capital will support continued product innovation to the benefit of the customers and pension savers.”

Nordic Capital feels that there’s an opportunity to leverage its deep sector expertise, extensive industrial network and access to significant capital to support Max Matthiessen to realise its full potential.

Bo Ågren, Chief Executive Officer (CEO) of Max Matthiessen, said: “We are excited to partner with Nordic Capital for the next chapter of Max Matthiessen’s development. We are wholly aligned when it comes to our strategic vision. Together, we will be able to accelerate our growth by continuing to provide the best financial advice as one of the leading financial advisors and by developing and expanding our product portfolio further. Nordic Capital has a great strategic approach and deep experience across our sector. They have a strong history of growing companies and we look forward to leveraging Nordic Capital’s expertise in the next phase of our development.”

Johan Forsgård, Head of Nordics at WTW, added: “We are very proud of what Max Matthiessen has accomplished and are confident that Max Matthiessen will continue to grow and expand their capabilities in order to deliver first-class client solutions with Nordic Capital as the new owner. Willis Towers Watson and Max Matthiessen will have ongoing relationships in certain aspects of the business where we remain closely aligned and we look forward to continuing to work together.”

The terms of the transaction were not disclosed, and the acquisition remains subject to customary regulatory approvals.

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