Context

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.

Target

HBC is a leading owner-managed platform for insurance distribution in the DACH region. Its business model uniquely combines traditional commercial brokerage with Managing General Agent (MGA) services, allowing it to act as both an intermediary and an underwriter for specialized risks. The company’s value proposition centers on providing SMEs and high-net-worth individuals with expert advice in niche segments including marine (yacht), travel, cyber, and construction insurance. Strategically, HBC operates a highly digitalized platform serving over 40,000 customers with a managed premium volume exceeding €600 million. By consolidating 15 bolt-on acquisitions in just three years, HBC has built an "ecosystem" that addresses the fragmented German SME insurance market, the largest in Europe.