AnaCap-backed MRH Trowe buys Helmig & Partner

MRH Trowe, which is backed by AnaCap, has acquired Helmig & Partner, a German specialty broker for bakery chains.

MRH Trowe, which is backed by AnaCap, has acquired Helmig & Partner, a German specialty broker for bakery chains. No financial terms were disclosed.

PRESS RELEASE

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, today announced that its portfolio company MRH Trowe (“MRHT” or “the Group”), a leading owner managed commercial lines insurance broker in Germany, has successfully signed its 11th bolt-on acquisition of the year with Olfen-based speciality broker Helmig & Partner (“the Company”).

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. The Company is one of the strongest franchises of North Rhine-Westphalia, having grown its turnover by more than 15% on average over the past 3 years.

This latest acquisition, which is expected to close in January 2022, underpins the strategic roadmap undertaken by the Group aimed at expanding in-house capabilities in specialty lines insurance and strengthening its geographical coverage. In Helmig & Partner, MRHT has identified the right add-on to complement its customer target group and consolidate its presence in Western Germany. This addition allows the Group to fortify its local sales capabilities and better serve its network of saving banks, while generating revenue synergies from cross-selling initiatives.

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. As a result of the acquisition, the Group is now on track to deliver more than €80 million of run-rate revenue.

Ralph Rockel, Co-Founder and Board Member at MRH Trowe, commented:
“We are delighted to announce another acquisition for MRHT with Helmig & Partner. 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. 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, added:
“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.”

AnaCap Financial Partners
(www.anacapfp.com)
AnaCap is a leading specialist mid-market private investor, investing through complementary Private Equity, Credit and Real Estate strategies across Europe.

Since 2005 the firm has raised €5.2 billion in gross AUM and completed over 100 primary investments across 16 European jurisdictions and India. We operate out of 7 offices in London, Luxembourg, New Delhi, Mumbai, Milan, Madrid and Lisbon.