EMZ Partners has sold ASSEPRO to The Ardonagh Group
ASSEPRO
ASSEPRO is Switzerland’s leading insurance broker in the small and medium-sized enterprise (SME) market, offering comprehensive services in the areas of insurance, risk, pensions and legal advice with more than 8,000 corporate clients. Through an active strategy of acquisitive growth, the company has successfully expanded into Austria since 2020, hence becoming the premier Swiss-Austrian buy-and-build platform in the insurance brokerage space. The company has 20-plus branches throughout Switzerland, Liechtenstein and Austria, with approximately 300 employees.
The Deal
Following its entry, EMZ Partners accelerated ASSEPRO’s mergers and acquisitions (M&A) trajectory in the subsequent years, while also driving the successful integration of the business, ultimately creating a highly coveted acquisition target for global strategic players as well as large private equity-backed insurance brokerage platforms. Lincoln International designed and ran a selective and very exclusive process with a small group of highly prestigious potential buyers, where The Ardonagh Group emerged as the ideal partner of management to drive future growth, while maximizing valuation for EMZ Partners.
Our Perspective
Christoph-Sebastian Meier, Lincoln International Managing Director who co-led the transaction, commented, “This transaction marks an important milestone in the ongoing consolidation of the European insurance brokerage market. The Ardonagh Group manages to fill a crucial “white spot” in their portfolio and adds an exciting platform for future acquisitive growth in Switzerland and Austria.”
Friedrich Bieselt, Lincoln International Managing Director who co-led the transaction, added, “We are very proud of having accompanied ASSEPRO over the course of the last three years. The development has been tremendous. With this deal we expand our growing deal track record in the insurance brokerage space where we see continued strong M&A momentum driven by fragmented markets, attractive business economics and vast value creation potential through buy-and-build.”
The Ardonagh Group
The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. The group is a collection of best-in-class entrepreneurial and specialist brands with a network of more than 200 locations and a combined workforce of more than 10,000 people. Across its portfolio, The Ardonagh Group offers a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, The Ardonagh Group’s understanding of the communities it serves, together with its scale and breadth, allows it to work with insurer partners to deliver a broad range of product and risk solutions that meet customer needs.
Lincoln International played an instrumental role in achieving an exceptional outcome for all parties involved: profound knowledge of the market dynamics and an intimate understanding of the strategic buyer landscape in the insurance brokerage space – combined with an always hands-on approach and tireless commitment to deal-execution – was key to success. The Lincoln International team truly delivered.
Meet our Senior Team
I am enthusiastic about creating sustainable growth and the highest value for our clients and strive to leave a positive footprint beyond any successful M&A transaction.
Friedrich Bieselt
Managing Director & Head of Business Services, Europe
Frankfurt
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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.