LONDON, July 29,
2024 /CNW/ -- Aquiline Capital Partners LP
("Aquiline"), a private investment firm specializing in financial
services and related technologies, has today announced that it has
entered into an agreement to sell Quintes
Holding B.V. ("Quintes") to Brown & Brown, Inc. ("Brown
& Brown"), a leading insurance brokerage firm. The Quintes
management ownership team will also be selling to Brown &
Brown. The acquisition is expected to be finalized in the fourth
quarter of 2024, pending customary closing conditions and
regulatory approvals.
Founded in 2012 by Gijsbert van de
Nieuwegiessen, Quintes has grown into one of the largest
independent insurance brokers in the
Netherlands. Since receiving support from Aquiline in 2020,
Quintes has expanded its geographical presence throughout
the Netherlands, establishing a
comprehensive network of regional hubs. This expansion has enabled
nationwide client coverage and provided a platform for local
mergers and acquisitions. Quintes has completed over 80
acquisitions under Aquiline's ownership while maintaining steady
organic growth, bolstered by its expansion into core areas such as
pensions and health services, and the integration of its
proprietary Managing General Agent ("MGA") across its portfolio.
Today, Quintes serves approximately 200,000 SME and retail
customers in the Netherlands
through its three main divisions: broking, MGA, and pensions.
Igno van Waesberghe, Managing Partner at Aquiline,
commented: "We partnered with Quintes in 2020 with the
goal of establishing a leading nationwide insurance broker in
the Netherlands. Over this period,
we have strengthened Quintes' commitment to the SME market,
successfully integrated numerous acquisitions, and significantly
expanded its business capabilities and carrier relationships. Brown
& Brown's acquisition is a testament to the strong business we
have built together. The entire Aquiline team and I have enjoyed
working with Gijsbert and his team, and we wish them great success
in this next chapter."
Gijsbert van de Nieuwegiessen,
Founder and CEO of Quintes, added: "The past four years
working with Aquiline have been highly successful. Their support
has been crucial in achieving our recent growth and current scale,
positioning us for an exciting future with further expansion in
partnership with Brown & Brown."
Aquiline was advised by Evercore (financial adviser), De Brauw
Blackstone Westbroek (legal adviser), Oliver Wyman (commercial diligence), KPMG
(financial and operational diligence) and Deloitte
(structuring).
About Aquiline Capital Partners LP
Aquiline Capital Partners LP is a private investment firm based
in New York, London, Philadelphia, and Greenwich, Connecticut, that is dedicated to
financial services and related technologies. The Firm has
approximately $10.4 billion in assets
under management as of March 31,
2024.
For more information about Aquiline, its investment
professionals, and its portfolio companies, visit
www.aquiline.com.
About Quintes Holding
B.V.
Quintes Insurance & Risk Management is a leading and
fast-growing insurance & pension broker and MGA. A solid group
of 700 professionals working from 18 local offices spread
throughout the Netherlands.
Quintes is characterized by short lines of communication,
high-quality advice and putting customer interests first. A company
in which initiatives are appreciated. For more information or to
find an office near you, please visit: www.quintes.nl.
About Brown & Brown, Inc.
Brown & Brown, Inc. is a leading
insurance brokerage firm, delivering risk management solutions to
individuals and businesses since 1939. With over 16,000 teammates
and 500+ locations worldwide, we are committed to providing
innovative strategies to help protect what our customers value
most. For more information or to find an office near you, please
visit bbinsurance.com.
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SOURCE Aquiline Capital Partners LP