TOWERBROOK takes majority stake in MSA MIZAR

On January 21, 2026, TowerBrook Capital Partners entered into an agreement to acquire a majority stake in Milan-based insurance claims manager MSA Mizar, operating alongside existing shareholders Columna Capital and Giovanni Campus, who both reinvested to retain a significant minority interest, subject to regulatory approvals. Columna Capital initially invested in March 2022 through MSA-Multi Serass and Acclaims, the companies forming the group's perimeter. Under Columna's ownership, MSA Mizar completed ten add-on acquisitions and quadrupled its revenue, expanding internationally into France via IMS, Spain via Veta+, Switzerland, and Belgium. At the time of the transaction, the platform operated across six European countries, handled more than 850,000 claims annually, and employed roughly 850 people. Continuity in governance was preserved, with Antonio Marchitelli remaining Group CEO and Giovanni Campus staying on as Executive Chairman. The acquisition represented TowerBrook's first direct investment in an Italy-headquartered platform following the opening of its Milan office. MSA Mizar and the sellers were advised by Mediobanca on financial aspects, LMS on legal matters, Oliver Wyman on commercial due diligence, PwC on financial and technology due diligence, and NCTM on tax. TowerBrook was advised by Lazard and Macquarie Capital on financial matters, Chiomenti and Fried Frank on legal aspects, alongside Alvarez & Marsal, PwC, and Capstone covering commercial, financial, operational, technological, legal, tax, and regulatory due diligence.

It is worth noting that the fund Columna Capital took control of Msa Mizar through an LBO in 2022.