AnaCap, TA-backed MRHT makes four bolt-ons in January

The companies are Bavaria, Vertoura, Frank Rauch & Kollegen and Asspert.

  • The companies were acquired, effective 1 January
  • AnaCap first invested in MRHT in 2020
  • TA invested in MRHT in 2023

MRH Trowe (MRHT), a portfolio company of AnaCap Financial Partners and TA Associates, has completed four bolt-on acquisitions of Bavaria, Vertoura Versicherungsmakler, Frank Rauch & Kollegen Finanz-und Versicherungsmakler and Asspert Versicherungsmakler.

The companies were acquired, effective 1 January, and the respective management teams will remain on board.

Munich, Germany-based Bavaria is an insurance broker for yachts, private aircraft, classic cars and holiday properties. Vertoura is a Erzhausen, Germany-based broker in the tourism sector. Neckarsteinach, Germany-based Frank Rauch & Kollegen serves private client and SME market segment. Dürnau, Germany-based Asspert focuses on commercial customers in the trade and crafts sector.

These transactions follow TA’s investment in MRHT in 2023 and the closure of AnaCap’s maiden Continuation Fund, enabling the continuation of its investment hold periods for MRHT and GTT.

AnaCap first invested in MRHT in 2020.

These acquisitions will accelerate MRHT’s growth trajectory and cement its position as an insurance broker in the DACH region, according to a release.

This is an “excellent start to the year for MRHT through this accelerated M&A programme, as the founders and management team, together with TA, continue MRHT’s ambitious growth plans across the DACH region,” said Tassilo Arnhold, co-managing partner at AnaCap. “This early success entirely endorses our vision for the continued hold period afforded by the Continuation Fund. Our expectation is for a significantly amplified ultimate return for our LPs through this new structure.”

MRHT is an independent P&C commercial broker based in Frankfurt, Germany.

London-based AnaCap is a partner for founders and entrepreneurial management teams, investing in lower mid-market software, technology, and services within the Europe. It completed three portfolio company exits, for an average realised return of 3.6x and 44 percent IRR in 2023.

TA Associates is a global private equity firm based in Boston, Massachusetts.