Global insurance broker H.W. International B.V. (HWI BV) has undergone a management buyout (MBO), securing backing from OBL Investments BV.
The deal involves the acquisition of the group’s Dutch holding company following the sale of its North American, UK, French, and Greek operations over the past year.
With this new private investment, HWI plans to develop its remaining offices in Australia, Germany, Portugal, and Spain, explore M&A, and potentially expand its MGA platform, NuVu. The company is also planning a brand refresh later this year across all territories.
The business will be led by current Managing Director Juan Alberto Garcia, who becomes the Global Chief Executive Officer.
According to the announcement, all local managers and senior and associate directors are supportive of the MBO and will remain with the business.
Garcia commented: “This is a landmark moment for HWI BV and our leadership team. It provides us with access to new funds which we will use to grow out our existing offices, support services, capabilities and technology in Europe and beyond.
“With the continuing demand for independent broking and a strong MGA sector, we see plenty of potential as a flexible privately-owned broker together with our MGA platform that understands what entrepreneurial brokers and underwriters need to succeed.”
He added: “Whilst the MBO gives us the financial strength to broaden and develop our market offering, the 2024 period of consolidation means that we can now provide a clear message to clients and partners worldwide as to who we are. This is an opportunity to sharpen our focus, remain agile and reinforce what matters most to our clients; expert advice, global reach and trusted relationships, something our existing clients and partners welcome and have come to rely upon.”
Maurits Kleingeld, Founder and investor stated: “As the new owner of HWI, my role is to safeguard its independence and values. I have deep respect for the legacy of the business and full confidence in Juan and the leadership team to take it forward, continuing the journey and entrepreneurial vision set by my late godfather, Hugh Wood, who was a truly inspirational man.”
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