NDB Groep is sold to GGW Group
NDB Groep, a North Holland-based family-owned insurance broker and MGA, has been sold to GGW Group. GGW Group is a growing group of renowned insurance brokers and MGAs in Europe, headquartered in Hamburg, Germany.
NDB Groep
With a strong focus on quality, integration and scalability, NDB Groep (www.ndb.nl) has grown in recent years to become a top 40 player in the Dutch market. NDB Groep has expanded to various regions in the Netherlands, where it has created strong regional positioning. The financial industry requires increasingly high standards when it comes to compliance, data management and IT capabilities. Staying on top of these developments is crucial. NDB Groep addresses these requirements at a group level by offering branch offices a proven ICT platform as well as centralized MGA capabilities under the brand DiVerz. The insurance broker and financial advisory services, however, retain their own unique identity and customer brands.
Jan de Boer: “NDB Groep has a strong and distinctive position in the Dutch market. We have put a lot of attention to the quality and the background of the companies within our group. The cooperation with GGW enables NDB Groep to further expand its position. For insurance broker and financial advisory companies looking to join a group, NDB Groep is therefore a very suitable partner.”
GGW Group
GGW Group (www.ggwgroup.de) is a group of high-quality insurance brokers. The group was founded early 2020 and since been joined by more than 30 partner companies in 4 countries, employing over 1,500 employees. Together the group manages more than EUR 1 billion in insurance premiums. GGW Group was founded in Germany – its headquarters are in Hamburg – where it became a top 3 player within 2.5 years.
Moritz Rutt, co-founder of GGW Group says: “One of the characteristics that sets GGW Group apart is that it is led and managed by its owners. Partners who joined the group have become significant shareholders of the group. This makes its culture unique. The people at GGW Group have a long-term vision, are hands-on, close to customers and value decentralized decision-making. This fits perfectly with NDB’s strategy.“
Transaction
Jan is enthusiastic about the transaction and the support from PhiDelphi: ”We are extremely satisfied with the way PhiDelphi has guided us through the process. Our interests and wishes have been represented in a professional manner at all times. Furthermore, the team was always in full control on every aspect of the transaction. Support has been very hands-on and provided us with lots of comfort and overview during this intensive process. With the help of their extensive network in the sector, we have found a suitable partner to secure and strengthen the strategic position of NDB Groep in the Netherlands. We look forward to the cooperation with NDB Groep and GGW Group.”
Harald Miedema, partner at PhiDelphi: ”We are proud to have supported NDB in this transaction and to have realized the partnership with GGW, as we see a great fit between the culture as well as the ambitions of both companies. It was pleasant to work with NDB and a unique process with the inclusion of the NVO Groep acquisition underway.”
The transaction is subject to Dutch Financial Markets Authority approval.
With this new partnership between NDB Groep and GGW Group, PhiDelphi strengthens its experience as an M&A-advisor in the insurance distribution sector. For enquiries regarding this transaction, please contact Harald Miedema.
