Brera Partners acquires 70% of shares of GBSAPRI Group to create Italy’s leading independent insurance broker
Zurich, April 3, 2024
Brera Partners, a private equity firm specializing in investments in the asset light financial services sector, has announced it has acquired 70% of the shares in Italian insurance broker GBSAPRI Group, with the strategy to drive consolidation in Italy’s fragmented insurance broking sector. Financial details of the transaction were not disclosed.
Headquartered in Rome with nine offices across Italy, GBSAPRI Group was established in 1951 to service SMEs, corporates and the public sector. The brokerage has grown its specialist expertise via acquiring local insurance intermediaries across different verticals and sectors, covering: marine, cargo, aviation, financial institutions, employee benefits and affinity groups, reinsurance, risk management and claims management.
Brera said the acquisition will enable GBSAPRI Group to continue its aggregator business model and acquire a series of businesses currently in the pipeline to grow its presence on the Italian market.
“Our ambition is to become Italy’s premier insurance broker, and we are delighted to be able to work with Brera Partners to achieve that goal,” said GBSAPRI Managing Director Carlo Maria Bassi who will transition to the CEO role in the context of this transaction. “With Brera’s financial support and partnership, we will be able to significantly strengthen our position in the Italian insurance market, whilst guaranteeing the highest standards of work quality and customer satisfaction that we have maintained for the past 70 years.”
“When we started this process, we never imagined meeting a company like Brera. Their partners Andrew Borda and Tin Radosevic have been instrumental in turning this ambitious project into a reality,” added current CEO Guilio Spagnoli who will transition to Chairman as part of the transaction. “GBSAPRI now has the means to become a true insurance hub, with significant M&A ambitions, but will still maintain its values as a service-focussed broker managed by partners.”
“Brera Partners is excited to support GBSAPRI and the management team on their growth journey to become the leading Italian insurance broker for businesses and the public sector,” said Andrew Borda, Partner at Brera Partners. “GBSAPRI has earned a reputation as a leader in several non-life insurance product lines and in recent years has successfully built its position through constant organic growth and M&A transactions, acquiring leading specialist brokers such as marine intermediary Poliass and corporate and industries expert Rodinò & Partners. We look forward to supporting Carlo Bassi and Giulio Spagnoli in building GBSAPRI into the main aggregator broker in Italy.”
The GBSAPRI Group was assisted by financial advisors Kitra Advisory, KPMG, and by law firms Lener & Partners, Lexia and Andpartners.
Brera Partners was supported by Chiomenti on Legal DD and transaction documentation, by PWC on Financial and Tax DD and tax structuring, LEK Consulting on Commercial Due Diligence and Rosedge Capital as debt advisor. Eurazeo, advised by Ahsurst, provided the acquisition financing for the transaction. Brera Partners was backed by Headway Capital Partners with equity financing to facilitate the transaction.
Brera Partners sponsors the management buy-out of Credaris AG
November 25, 2021
Brera Partners sponsor the management buy-out of Credaris from Comparis Group
Brera Partners to support the company and its management in its continued growth while maintaining its excellent level of service
Brera Partners Switzerland AG (“Brera Partners”) has sponsored the management buy-out of Credaris AG (“Credaris”) from the Comparis Group. The parties have agreed to confidentiality regarding the purchase price.
Founded in 2014 by Marc Hallauer within the Comparis Group, Credaris is Switzerland’s leading digital broker of personal loans. Credaris has grown rapidly since it was founded, led by one of the leading management teams in the sector. Since its inception, Credaris has brokered over CHF 1 billion in personal loans, advised over 250,000 customers and processed over 100,000 credit applications.
Comparis.ch AG (“Comparis”) is one of Switzerland’s most trusted brands and is the country’s leading independent price comparison service.
In partnering with Credaris, Brera Partners aims to support the company and its management in continuing the growth of the business, enabling the further digitization of the Swiss consumer loan market and keep excelling in customer orientation.
Marc Hallauer, CEO, Credaris commented:
“We are excited Brera Partners has trusted us with the entire Credaris team and look forward to partnering to continue to grow the business. Brera Partners has in-depth knowledge of the Swiss financial services sector and brings in a lot of experience from comparable international markets.”
Steven Neubauer, CEO, Comparis.ch commented:
“The sale of Credaris streamlines our portfolio and gives us the opportunity to strengthen our already high focus on consumers in Switzerland even further. We are delighted that we have found a solution with Marc Hallauer and Brera Partners that ensures continued independence and highest customer satisfaction.
The two independent companies will continue to closely collaborate. “This is key to further drive innovation and customer satisfaction in the sector of consumer loans.”
Andrew Borda, Partner, Brera Partners commented:
“We are extremely excited to sponsor the management buy-out of Credaris. Marc Hallauer is a dynamic entrepreneur who has built a fantastic team and a great business that provides excellent service to its customers. We look forward to supporting Marc and his team in the next phase of Credaris’ growth.”
Brera Partners was advised by PwC (Financial, Commercial, Tax) and by Schellenberg Wittmer (Legal).
Brera Partners opens Zurich office
January 1, 2021
Brera Partners is pleased to announce its relocation from London to Switzerland and the opening of its office in Zurich. Located in Zurich’s Seefeld neighbourhood close to Bellevueplatz, Brera Partners’ office is within a short walk from all major Zurich-based financial institutions and our Zurich headquarters puts us within a short drive or train-ride from all of our target markets.