DS INSURANCE BROKER acquired by EDGE GROUP

Sabseg, the Iberian insurance brokerage platform backed by Miura Partners, has acquired 100% of Today Group through its Italian holding company Next Italy Holding. The transaction strengthens Sabseg's position in the Italian insurance market and supports its broader consolidation strategy across Southern Europe. Through the acquisition, Sabseg expands its presence in the corporate and middle-market segments while enhancing its capabilities in transportation, health and wellness, surety, engineering, and consumer credit insurance. The deal forms part of Sabseg's €350 million investment plan, aimed at increasing the group's intermediated premiums to €2 billion by 2030 through a combination of organic growth and targeted acquisitions. Next Italy Holding's legal and financial advisors were Legance and KPMG, respectively. Gruppo Today was advised by AlphaOmega.

The acquisition of Santiane by Kereis represents a strategic move, driven by the latter's intention to expand its market footprint and reinforce its position in the French insurance industry. Through this transaction, Kereis aims to leverage Santiane's expertise in the health and prevoir sector, while also diversifying its service offerings and strengthening its distribution network. The deal is expected to create synergies, driven by the complementary nature of the two companies' operations. By partnering with Santiane, Kereis seeks to build a leading player in the French insurance market, driven by its commitment to delivering high-quality services and building long-term relationships with its clients. The operation includes a clause of earn-out, indexed on the future performance of Santiane. The management is expected to reinvest approximately 50 million euros in the company, demonstrating their confidence in the future prospects of the business. As Kereis continues to navigate its new phase of development under the ownership of Advent International, the acquisition of Santiane is expected to play a key role in driving the company's growth and expansion in the French insurance market.

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.

21 Invest sold its controlling stake in FMA Group to Canadian insurance broker Synex Performance d'Affaires after approximately six years of ownership. Founder Ludovic Dumont sold a portion of his shares but retained a significant minority stake in the business, while a small portion of capital remains with the management team. The sale process was mandated to investment bank Cambon in summer 2025 and attracted interest from both financial sponsors and strategic buyers. Despite an initial preference for a financial sponsor — given Dumont's desire to remain at the capital — Synex's offer ultimately prevailed as the superior bid, combining an industrial valuation premium with a shareholder structure accommodating Dumont's continued involvement.

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.

IK Partners acquired a majority stake in Ascora to facilitate its managerial transition. With this first LBO, Ascora is entering a new development phase supported to accelerate its consolidation strategy. Having already acquired thirteen brokers, the group aims to leverage IK's expertise in scaling insurance platforms to strengthen its leadership position in the French market.

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.