POELLATH advises the management of GGW Group on investment by Permira
The British private equity investor Permira has acquired a stake in GGW Group, one of Europe’s leading insurance brokerage platforms for small and medium-sized enterprises. The seller is the financial investor Hg Capital, which acquired a stake in the GGW Group in 2021 and has since expanded the group with approximately 40 acquisitions. Hg Capital will retain a stake in the company. Together with GGW Group, Permira will continue to drive the company’s organic and inorganic growth, as well as its expansion in Europe. The closing of the transaction is still subject to the customary regulatory approvals. Closing is expected in the second quarter of 2024. POELLATH provided comprehensive legal advice to the management of GGW Group, including Tobias Warweg, in connection with the transaction regarding the management participation.
The Hamburg-based GGW Group, founded by CEO Tobias Warweg, is an association of owner-managed insurance brokers. Over the past three years, the group has built up a first-class platform for insurance brokers in Germany. Today, more than 50 brokerage companies operate under the umbrella of the GGW Group advising small and medium-sized companies in Europe.
Permira is a global private equity firm headquartered in London. The firm provides private equity and debt financing to grow medium-sized companies.
Hg Capital is a leading investor in European and transatlantic software and services companies. The company currently has a portfolio of approximately 52 companies with a total value of approximately USD 135 billion.
POELLATH advised the management of GGW Group and Tobias Warweg on all legal aspects of the management participation transaction with the following Munich-based team:
- Dr. Benedikt Hohaus (partner, management participations, M&A/private equity)
- Dr. Nico Fischer (partner, tax)
- Silke Simmer (counsel, management participations, M&A/private equity)
- Jan Lukas Jungclaus (associate, management participations, M&A/private equity)
