LONDON, March 29 2023 – Proskauer, a leading international law firm, announced today that it advised the current shareholders, comprising the Founders (“Shareholders”) and AnaCap Financial Partners ("AnaCap") in connection with the sale of a minority stake in MRH Trowe, one of the largest owner-managed commercial lines insurance brokers in Germany.
The Shareholders have signed an agreement to sell a minority stake in MRH Trowe to TA Associates, generating a 4.3x money multiple for AnaCap. The Founders will remain the largest shareholder group post transaction and will be backed by both AnaCap and TA Associates moving forward. Closing of the transaction is subject to customary regulatory approval.
Since AnaCap’s initial investment in MRHT, the group has completed 21 bolt-on acquisitions and shown strong double-digit growth and this new partnership with TA Associates will help to further accelerate MRHT’s growth and secure its position as a leading insurance broker in the DACH region.
Proskauer advised AnaCap on its initial investment into MRH Trowe and has also recently advised AnaCap in connection with its conditional sale of Oona Health (a 4x money multiple), as well other transactions including: its acquisition of a 40% shareholding in Proyectos de Formacion y Servicios S.L; its acquisition of Nets’ digital invoice distribution and bill payment solutions business, Orbyt (formerly known as EDIGard); its majority investment into German fintech business fintus GmbH and its majority investment in WebID Solutions, a fintech company providing leading digital identification solutions to blue-chip German corporate and financial institutions.
The Proskauer team was led by partner Richard Bull and included associates Jenny Bowe, Katie Bunce, Jack Morant and Antony Vitanov (M&A). The team also worked closely with partner Barry Newman (Finance) and associate Charlotte Boylin (Private Credit).
The Proskauer team worked in partnership with German law firm Oppenhoff (Markus Rasner and Till Liebau).
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Proskauer has one of the premier global mergers and acquisitions practices. The Firm has advised on some of the most complex M&A transactions across a range of industries, including in the private equity and asset management space. Recent matters include representing Pollen Street Capital on the sale of and reinvestment in Pacific Fund Systems to Apex Group, a global financial services provider; Copper Street Capital on its majority investment into the One Four Nine Group and Lovell Minnick Partners on the signing of a definitive agreement to acquire a majority stake in London & Capital.