Oppenhoff advised the industrial insurance broker MRH Trowe on the minority investment by private equity investor TA Associates. The transaction is subject to EU merger control clearance. The parties have agreed not to disclose the details of the transaction.
Oppenhoff also advised MRH Trowe on a further debt financing round. The funding is being provided by London-based debt funds led by Macquarie Capital Private Credit together with the existing lender Bain Capital Credit as a unitranche syndicated loan facility.
With the addition of another financial investor as minority shareholder, MRH Trowe is setting the course for further growth of the group. Together with AnaCap Financial Partners which entered into a minority investment at the end of 2020 as part of an initial growth plan, TA Associates will back the founding managers to further accelerate the group's growth trajectory. Even with the new US investor, the founding and management team remains the largest shareholder.
MRH Trowe is one of the ten largest German industrial brokers. In addition to MRH Trowe Insurance Brokers GmbH, several specialised service providers for various segments operate under the umbrella of Mesterheide Rockel Hirz Trowe AG Holding. MRH Trowe offers comprehensive expertise in practically all lines of insurance for industrial and commercial clients, institutions and upscale private clients. The owner-managed group pursues a consistent growth strategy with a holistic advisory service, specialised teams and a high degree of digitalisation at the interfaces between clients, brokers and insurers. Around 1,100 employees manage a premium volume of more than 650 million Euros.
TA Associates (TA) is a leading global private equity firm focused on growing profitable businesses. Since 1968, TA has invested in more than 560 companies across five target industries: technology, healthcare, financial services, consumer products and business services. Leveraging its extensive industry knowledge and strategic resources, TA works with management teams around the world to help high-quality companies create lasting value. The company has raised 48.6 billion US-Dollars of capital to date and has more than 150 investment professionals in offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.
AnaCap is a leading specialist investor in European financial, technology and related corporate services, supporting both founders and entrepreneurial management teams. The focus is on acquisitions, management buy-ins or buy-outs of companies that require capital, know-how and experience to implement organic and inorganic strategies. Since 2005, the company has raised 2.7 billion euros in gross capital and completed 80 investments in 16 European countries. AnaCap institutionalises companies and regularly executes sophisticated growth strategies such as buy-and-build programmes that leverage a deep understanding of the sector.
An Oppenhoff team led by Dr Markus Rasner provided comprehensive advice to MRH Trowe. The other team members were Till Liebau, Moritz Schmitz, Marcel Markovic (all private equity), Dr Wolfgang Kotzur (finance), Dr Günter Seulen, Sebastian Gutmann, Moritz Bock (all corporate), Dr Peter Etzbach, Thomas Wismann (both insurance supervisory), Anja Dombrowsky, Jennifer Bold (both employment), Dr Jürgen Hartung (IT and data protection), Georg Lecheler (IP), Dr Hanna Schmidt (commercial), Dr Gunnar Knorr (tax), Dr Simon Spangler and Renée Cherelle Eckruth (both merger control). Advice on the transaction and the financing was provided in collaboration with the London office of Proskauer Rose.
Oppenhoff continuously advises MRH Trowe Group on transactions, most recently on the acquisition of Lurse AG. The Oppenhoff team had already advised on the minority investment by private equity investor AnaCap Financial Partners.