AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, today announced that its portfolio company MRH Trowe (“MRHT” or “the Group”) has closed on a new financing facility in support of its organic and acquisition-driven growth strategy.
MRHT is one of the ten largest German industrial brokers, offering extensive expertise in most insurance lines for both industrial and commercial customers, as well as affluent private customers.
Having been identified by AnaCap as the ideal platform to achieve scale in its market, MRHT has accelerated its buy and build execution in 2021, signing or closing 11 bolt-on acquisitions since December last year. In line with its strategic roadmap, the Group remains well positioned to further grow inorganically in the large and consolidating German market.
Following a competitive process among leading specialist lenders, AnaCap and MRHT opted to partner with Bain Capital Credit, whose expertise in insurance brokerage and strong belief in local consolidation will help the Group unlock its growth potential. Local saving banks that have historically been a key part of MRHT’s development will retain positions in the new financing model, demonstrating important continuity and a strong commitment to MRHT’s ambitions.
This additional funding will be deployed to support the ongoing, targeted buy-and-build approach followed by the Group, while enabling MRHT to diligence and acquire larger target companies than has been the focus to date.
Tassilo Arnhold, Partner at AnaCap, commented:
“We are delighted to announce a working partnership with such a reputable name in the market such as Bain. Securing this funding structure will act as an important catalyst for MRHT to further accelerate its activities on the M&A trail, following what has already been a hugely impressive 2021 to date. The Group felt this strategic financing was important to optimise its financing position and put in place a strong platform that ultimately offers both flexibility and investment capability.”
Ralph Rockel, Co-Founder and Board Member at MRHT, commented:
"We look forward to the future cooperation with Bain Capital Credit with both excitement and confidence. Bain Capital Credit's insurance brokerage expertise and strategic understanding make it an ideal partner for MRH Trowe to leverage its inorganic potential. The partnership allows us to make even more effective use of the opportunities in the current market consolidation and to further strengthen MRH Trowe's market position.”
Tom Maughan, Managing Director at Bain Capital Credit, added:
“MRH Trowe is widely recognised as a high-quality operator and we are excited to support the Company in the next phases of its growth trajectory.”
Alessandro Nuti, Vice President at Bain Capital Credit, commented:
“The financing of MRH Trowe builds on our experience in the insurance brokerage sector and we are delighted to support MRHTs consolidation of the attractive and fragmented German market.”