M&A Deal Summary

Permira Acquires GGW

On December 8, 2023, private equity firm Permira acquired insurance company GGW from HgCapital

Acquisition Highlights
  • This is Permira’s 2nd transaction in the Insurance sector.
  • This is Permira’s 22nd transaction in Germany.

M&A Deal Summary

Date 2023-12-08
Target GGW
Sector Insurance
Buyer(s) Permira
Sellers(s) HgCapital
Deal Type Secondary Buyout

Target

GGW

Hamburg, Germany
GGW is a property & casualty (“P&C”) focused insurance broker mainly serving SMEs in the DACH region. GGW do even more! In addition to excellent advice on all insurance issues, GGW provide additional services to ensure the corporate security of customers over the long term - so that they can concentrate on their core business with peace of mind. GGW is based in Hamburg, Germany.

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Buyer(S) 1

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 162 of 170
Sector: Insurance M&A 2 of 2
Type: Secondary Buyout M&A Deals 43 of 45
Country: Germany M&A 22 of 23
Year: 2023 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-21 Adevinta

Amsterdam, Netherlands

Adevinta is a marketplace specialist that helps local digital marketplaces thrive through global connections and networks of knowledge. The company's marketplaces unlock the full value in every person, place, and thing – helping local communities prosper and leaving a positive footprint on the world. It serves people where they live, acknowledging what’s special about every culture and every place. Adevinta was founded in 2018 and is based in Amsterdam, Netherlands.

Sell Nkr14.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-15 La Piadineria

Montirone, Italy

La Piadineria offers freshly made “Piadinas”, a typical Italian product consisting of flatbreads filled with a broad variety of ingredients. La Piadineria was founded in 2000 and is based in Montirone, Italy.

Sell -

Seller(S) 1

SELLER

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 90 of 97
Sector: Insurance M&A 2 of 2
Type: Secondary Buyout M&A Deals 33 of 36
Country: Germany M&A 18 of 20
Year: 2023 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-12 JTL

Huckelhoven, Germany

JTL provides ERP software solutions enabling businesses to sell products online and offline. This product suite is the backbone of a merchant’s operations and automates their mission-critical daily workflows, ranging from managing distribution channels, order entry and warehouse management, all the way to fulfillment. JTL was founded in 2008 and is based in Huckelhoven, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-23 IRIS

Slough, United Kingdom

IRIS is a private software house supplying business management solutions to over 60,000 customers, from start-ups to large organisations. IRIS was founded in 1978 and is based in Slough, United Kingdom.

Sell £3.2B