Five Arrows Principal Investments (“Five Arrows”), the France-based private equity business of Rothschild, has agreed to acquire undisclosed majority stake in Voogd & Voogd, the Netherlands-based insurance broker and provider of insurance industry administrative services, from Bencis Capital Partners, the Netherlands-based private equity firm. Bas de Voogd (CEO) and Michael de Nijs (CFO/COO) will continue to retain a significant minority stake in the business.
The transaction will allow Voogd & Voogd to pursue new opportunities for its next phase of development. For 2016, Voogd & Voogd generated EUR 340 million in insurance premium and turnover of over EUR 50m. It has a workforce of around 370 employees. The closing of transaction is subject to the advice of the Works Council and the consent of the AFM, and is expected to close in fourth quarter of 2017.
The Jamieson team led by Ian Jamieson, David Kirkpatrick and Laura Yell, advised the Executive Management team on the terms of their reinvestment alongside Five Arrows.
