- Hg has now made 24 exits since the start of 2022
- GGW Group comprises more than 50 brokerage companies
- The company was founded in 2020
The private equity firm aims to support GGW Group’s acquisitive business plan in the fragmented German and European insurance brokerage industry. GGW Group comprises more than 50 brokerage companies and services small- and medium-sized enterprises. It is headquartered in Hamburg.
The company was formed by CEO Tobias Warweg with Hg’s support in 2020.
“It started as an innovative and very entrepreneurial idea, building a high-quality business alongside a long-trusted partner, in a sector we’ve studied over decades,” said Hg partners Justin von Simson and Benedikt Joeris in a statement.
The exit is Hg’s 24th since the start of 2022. The realisations mean Hg has had liquidity from nearly half its total portfolio in that time.
The deal is expected to close in the second quarter of 2024.