Bovemij acquired Autotrust
Bovemij, the Dutch insurance company focused on the automotive industry, acquired Autotrust, the Dutch market leader for (extended) warranties and maintenance for new and used cars.
Autotrust has offered warranty solutions for both car dealers and consumers since 2005. It has diversified its services by including maintenance contracts and insured warranties via its insurance company, Autotrust Verzekeringsmaatschappij.
Mas van Steenis, Chief Commercial Officer at Bovemij: “We view Autotrust as an important partner that will strongly contribute to both reliability and transparency for our mobility platform viaBOVAG.nl “
Ageeth Bakker, Chief Financial Risk Officer at Bovemij adds: “PhiDelphi has advised us throughout the acquisition process and has professionally represented our interests in an excellent way.”
Harald Miedema, Partner at PhiDelphi Corporate Finance: “It is always a pleasure to work on transactions with strong added value. Autotrust offers strong synergies for the digital platform strategy of Bovemij. We wish both parties a very successful cooperation.”
The acquisition of Autotrust fits the strategy of Bovemij to elevate its digital mobility platform, viaBOVAG.nl. The full press release can be found here.
Bovemij was founded in 1963 by members of BOVAG as the insurance company for the automotive industry. Nowadays the company expanded its activities by offering financing solutions, legal assistance and data insights.
With this transaction, PhiDelphi strengthens its track record in the insurance sector. Previously PhiDelphi acted as exclusive advisor to insurance companies such as Achmea, DAS, ABN Amro Verzekeringen and insurance distributors such as Sibbing and Concordia de Keizer.