DIOT-SIACI acquired by ARDIAN

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.

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.

KKR is acquiring insurance broker April from CVC Capital Partners for EUR2.3 to EUR2.4 billion, representing 15 times its projected 2022 EBITDA. The deal is highly profitable for CVC, which valued April at EUR900 million three years ago, representing a 2.5-fold increase in value.

HLD acquired a majority stake in Groupe Vilavi, primarily to facilitate the complete exit of the founder and former CEO, following a series of serious criminal indictments. The deal was uniquely funded mainly through equity from HLD and debt secured from five of the group's key insurance partners: Allianz France, Generali France, Swiss Life France, MFA, and Wakam. This "French solution" was preferred over industrial offers (such as from Allianz) to preserve the broker's independence and maintain its ability to work with multiple insurers. The strategic plan under HLD involves strengthening corporate governance, expanding healthcare and workplace risk services, and transitioning toward a wholesale brokerage model.

Ardian won a competitive auction process (beating HG Capital and Cinven) to join TA Associates in a co-control consortium. Both sponsors hold equal stakes and governance rights. The transaction was financed via an unitranche debt provided by Arcmont. Under TA Associates' ownership since 2018, the group increased its revenue fivefold. The new strategic plan aims to triple the company's size through 10% annual organic growth and an aggressive M&A strategy targeting new verticals (commercial real estate, construction) and geographic expansion in France and potentially internationally.

Charterhouse Capital Partners has acquired a majority stake in Siaci Saint-Honore from Ardian. Under the new structure, the management and employees took control of the capital, with Charterhouse acting as the lead financial partner. Ardian, the previous majority owner, retained a minority position to support the group's continued international expansion. The transaction was structured to ensure the broker's independence by favoring financial sponsors over strategic industrial bidders. The strategic plan focuses on aggressive external growth across Continental Europe, Asia, and Africa, supported by recent industrial partnerships.

Abenex acquired a majority stake in Leader Insurance, succeeding LT Capital. The deal valued the group at approx. The transaction aimed to support founder Yoann Chery in his ambitious "buy-and-build" strategy to diversify into health, protection, and new geographic markets (DROM-COM).