Switzerland’s leading insurance broker in the small and medium-sized enterprise (SME) market, ASSEPRO offers comprehensive services in the areas of insurance, risk, pensions and legal advice. Our in-depth expertise is trusted by more than 8,000 businesses. We determine our future and set new standards in customer service through continuous development and above-average growth. Moreover, we create vital added value and remain agile by developing innovative digital solutions.
The sale to The Ardonagh Group marks the third exit of EMZ’s Munich office
During EMZ’s holding period, ASSEPRO increased its market share in the Swiss insurance brokerage market and developed a market leading position in Austria
Since EMZ’s investment ASSEPRO completed a double-digit number of add-on acquisitions in Switzerland and Austria
EMZ Partners (“EMZ”), a leading European investment firm has sold its shareholding in the Pfäffikon-based insurance broker ASSEPRO (“the company”), to London-based The Ardonagh Group (“Ardonagh”). The sale to Ardonagh marks the third exit of EMZ’s Munich office. The transaction is subject to antitrust clearance, and parties agreed not to disclose terms.
ASSEPRO is the largest independent insurance broker for small and medium-sized enterprises (SMEs) in Switzerland. Its 300 employees work across 24 locations offering a variety of services including general insurance, pensions, and legal advice. It is also the largest insurance broker for physician’s insurance in Austria.
Placing CHF 1.2 billion premium volume of GWP annually, the business has grown significantly in recent years through a combination of organic growth and targeted M&A. Since 2017, ASSEPRO has successfully acquired and integrated over 20 businesses, supporting its expansion across Europe.
EMZ invested into ASSEPRO in January 2021 alongside a wide number of the management team and ASSEPRO employees. The company grew rapidly during EMZ’s holding period organically and inorganically.
“Our investment in ASSEPRO, alongside the management team and key employees, represents the core of our strategy of investing alongside committed management teams. We thank the whole ASSEPRO team for the excellent collaboration over the last years”, says Klaus Maurer, Senior Partner at EMZ.“
“Our partnership with EMZ was always a partnership on eye level and we appreciated EMZ’s support throughout their investment period, especially with regards to the realization of an accelerated M&A strategy. We are extremely proud to become part of Ardonagh and simultaneously remain shareholders of ASSEPRO”, says CEO Jon Samuel Plotke.
Executive Chairman of Ardonagh’s International platform, Conor Brennan said: “ASSEPRO is an ambitious business with its sights firmly set on achieving high levels of growth while continuing to deliver an excellent service to clients. ASSEPRO’s local knowledge and networks will be invaluable to our business as we continue to foster strategic partnerships that bolster our global presence.”
EMZ was advised by Lincoln International, Latham & Watkins, Niederer Kraft Frey, E+H, and Alvarez & Marsal.