At what enterprise value was GGW GROUP acquired in 2023?

During the acquisition of GGW GROUP by PERMIRA in 2023, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Financial Services industry currently tracks an average EBITDA multiple of 12.9x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of GGW GROUP when it was acquired by PERMIRA?

The estimated EV/EBITDA multiple for GGW GROUP is in the range of 15x - 25x. For comparison, the Financial Services sector currently shows an average EBITDA multiple of 12.9x. Join our community for free to access full valuation data and industry trends.

When was GGW GROUP acquired by PERMIRA?

GGW GROUP was acquired by PERMIRA in 2023.

What was the revenue of GGW GROUP at the time of the deal?

The revenue of GGW GROUP at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of GGW GROUP during the acquisition?

GGW GROUP's EBITDA is estimated to be in the range of 100M - 200M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the GGW GROUP acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the GGW GROUP deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.permira.com/news-and-insights/announcements/ggw-group-secures-investment-from-permira-as-the-firm-scales-as-a-leading-insurance-brokerage-group-in-europe

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Home Database Financial ServicesGGW GROUP

12/2023

PERMIRA takes majority stake in GGW GROUP

GERMANY Brokerage EV 1b - 4b EUR

Context

GGW Group has been acquired by Permira, the global private equity firm, through a transaction announced in December 2023. The acquisition follows Permira’s ongoing strategy to invest in service‑oriented platforms within resilient European markets. The deal is subject to customary regulatory approvals and is expected to close in the second quarter of 2024. The transaction involves the purchase of the equity interests currently held by Hg, the existing shareholder, and will result in Permira becoming the controlling owner of the brokerage platform. Permira’s interest in GGW Group stems from the platform’s fragmented market position, extensive broker network, and capacity to generate recurring commission streams from SME insurance placements. The firm views the acquisition as an opportunity to apply its operational expertise to accelerate consolidation within the German and broader European brokerage landscape. By leveraging Permira’s capital resources, GGW Group can pursue additional bolt‑on acquisitions, enhance its digital underwriting infrastructure, and expand product breadth across risk categories. Post‑closing, GGW Group is expected to integrate new broker partners more rapidly, achieve economies of scale in back‑office functions, and improve risk‑selection efficiency through advanced analytics. The expanded platform should increase market coverage, allowing cross‑selling of insurance solutions to a larger SME client base. Permira anticipates that the combined capabilities will strengthen the group’s competitive position, drive margin expansion, and create a more attractive proposition for insurers seeking distribution channels in the region.

GGW GROUP, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Financial Services sector (12.9x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

GGW Group operates as an insurance brokerage platform focused on small and medium-sized enterprises across Europe. Established in 2020 by Tobias Warweg, the firm consolidates more than 50 independent brokerage firms under a single operational structure. The platform provides advisory services for commercial property, liability, motor, and specialty risk lines, leveraging centralized underwriting support and digital quotation tools. Client engagements are conducted through a network of local brokers who retain autonomy while accessing shared back‑office resources, risk analytics, and product portfolios from multiple insurers. Revenue generation relies on commission fees and broker placement margins derived from policies placed on behalf of corporate customers. The organization employs a hub‑and‑spoke model, with a corporate headquarters in Frankfurt coordinating compliance, technology integration, and brand standards across participating broker entities. Geographic coverage includes Germany, Austria, Switzerland, and selected markets in the Benelux region, with ongoing initiatives to enter additional European jurisdictions.

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REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GGW GROUP by PERMIRA are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: ggw group

Acquirer: permira