ASCORA acquired by IK PARTNERS

IK Partners, through its IK Small Cap IV Fund, has acquired a majority stake in Domek Group from the private equity firm Capital A. The transaction involved a significant reinvestment from the target’s founders and management team, who will continue to lead the organization. The strategic rationale for the investment is to accelerate the group’s expansion by introducing additional languages to its platform, launching adjacent service lines, and pursuing further geographic growth within Europe. This partnership aims to leverage the acquirer’s deep sector expertise in financial services to enhance the target’s technology infrastructure and data,driven marketing capabilities. Additionally, the group will selectively explore inorganic growth opportunities to broaden its service offering and consolidate its market position as a premier intermediary for non,native communities. This move allows the prior institutional investor to exit after a five,year holding period marked by the successful institutionalization and expansion of the platform into Belgium and Germany.

HLD acquired a majority stake in Entoria. After years of turbulence under previous owners, the deal aims to stabilize the broker and leverage its strong position in the growing market of self-employed insurance. The transaction was financed by a unitranche debt from Eurazeo with a leverage below 4x EBITDA.

The family-owned brokerage firm Hueber Assurances opens its capital for the first time in an Owner Buy-Out (OBO) transaction. Oddo BHF Private Equity enters as a minority strategic partner. The deal values the company at over EUR100 million. This operation allows the Hueber family to realize part of their asset value ("Cash-out") while retaining control. The partnership aims to fuel external growth, enabling the broker to acquire other portfolios or firms in the consolidating French brokerage market.

Ardonagh acquired 100% of Leader Insurance from Abenex for an enterprise value of EUR300M. This landmark transaction marks Ardonagh's first entry into the French market. The founder, Yoann Chery, will remain President of the French entity, reinvest a significant portion of his proceeds into Ardonagh Europe, and take charge of its French operations.

Bridgepoint has agreed to acquire a majority stake in Hanseatic Broking Center (HBC) from Preservation Capital Partners (PCP). The founders will remain significantly invested and continue to lead the group. Since its inception under PCP’s ownership in 2022, HBC has undergone a period of hyper-growth, quadrupling its EBITDA through 15 strategic acquisitions (e.g., LTA, Schomacker, and Schinner). The strategic rationale for Bridgepoint is to accelerate HBC’s expansion within the DACH region and further develop its MGA capabilities. The deal highlights the high demand for specialized insurance intermediaries in Germany’s €37 billion SME premium market, where MGA distribution is forecast to grow at 15% annually.

Advent International entered into exclusive negotiations to acquire Kereis from Bridgepoint. The transaction aimed to support the group's digital transformation and its expansion into new European markets and adjacent insurance products.

Ardian entered into a strategic agreement to become the primary shareholder of Diot-Siaci. The transaction allows for the full exit of Ontario Teachers' Pension Plan (OTPP), as well as the divestment of Cathay Capital and Mubadala. Bpifrance will reduce its stake but remain a minority shareholder. The new capital structure is designed as a balanced partnership between Ardian and the Burrus Group, alongside the management team. This transaction aims to support the group's ongoing growth strategy and consolidate its leadership position in the French and international insurance brokerage markets through a long-term collaborative governance model.

Cinven preemptively acquired a 54% majority stake in Finaxy Group from Ardian Expansion. The transaction marks a "LBO Ter," where the founder and his management team significantly reinvested to pursue a new growth phase focused on international expansion. Following a successful four-year cycle where EBITDA nearly tripled, the new strategy aims to replicate Finaxy's French consolidation success in neighboring European countries. The deal maintains the existing unitranche debt provided by Barings, ensuring financial flexibility for continued external growth in specialized risks and mid-cap services.

TMX Group Limited has announced the acquisition of Cboe Australia and Cboe Canada, two key players in the financial markets. This strategic acquisition is expected to bolster TMX Group's position in the global financial markets, extending its geographic presence and accelerating its growth strategy. The acquisition of Cboe Australia and Cboe Canada is also expected to enable TMX Group to diversify its activities and strengthen its ability to innovate and enhance the client experience. The two acquisitions are anticipated to bring a comprehensive range of services and solutions to investors and companies, while reducing costs and complexity. The acquisition process is currently underway, with regulatory approvals and closing conditions expected in the coming weeks.

The acquisition of UGIP Assurances by Santiane marks a significant step in the latter's strategy of growth and diversification in the French insurance market. Through this transaction, Santiane aims to expand its market footprint and enhance its product offerings, leveraging UGIP Assurances' expertise in wholesale insurance broking and its network of partner brokers. The deal is expected to generate significant synergies, enabling Santiane to accelerate its growth and consolidate its position as a leader in the French insurance market. The investment thesis relies on the potential for UGIP Assurances to contribute to Santiane's revenue growth and profitability, while also enhancing its market position and competitiveness. By partnering with UGIP Assurances, Santiane intends to build a leading player in the French insurance market, with a strong focus on customer satisfaction and innovation.