Milbank LLP has advised Hg funds, comprising Saturn 3, (“Hg“) on their co-investment in GGW Group GmbH (“GGW”). The investment follows an option for Hg to reinvest in GGW. Hg has decided to exercise this option and, following the transaction, will own a co-controlling stake in GGW alongside Permira.
GGW is one of the leading European insurance brokerage platforms for small and medium-sized enterprises. Founded by CEO Tobias Warweg, today, more than 50 brokerage companies are operating under the roof of GGW.
Closing is subject to regulatory clearances and expected in the second quarter of 2024.
The Milbank team that advised Hg was led by partner Steffen Oppenlaender (Global Corporate/M&A) and included partners Thomas Kleinheisterkamp (Tax), Alexander Rinne (Antitrust) and associates Sandra Feil and Pirmin Schauer (both Global Corporate/M&A).
