Non-public fairness investor AnaCap has acquired a majority stake in Milan, Italy-based insurance coverage broking platform Edge Group.
Based in 2014 , Edge serves the industrial insurance coverage sector, providing providers together with legal responsibility, multi-risk insurance policies, accidents and medical insurance.
The acquisition is among the first platform investments for AnaCap’s newest flagship fund and represents the second platform acquisition for AnaCap in Italy, following the funding in Yard Reaas in April 2024.
This transfer is alleged to bolster Edge’s inorganic development technique within the “fragmented” Italian insurance coverage brokerage market.
Since 2019, Edge Group has been pursuing this development technique by executing and integrating 12 acquisitions.
The corporate goals to additional improve its in-house capabilities by specializing in particular insurance coverage strains and attracting brokers with specialised sector experience.
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The funding is anticipated to extend the corporate’s gross written premium to greater than €100m ($103.74m).
This can place Edge among the many “high ten” industrial insurance coverage brokerage teams in Italy.
Edge’s founder and CEO, Manfredo Sciarretta, will accomplice with AnaCap to develop a number one broking consolidation platform in Italy.
The prevailing administration staff is about to proceed main the platform’s operations and development trajectory underneath the brand new possession.
For this transaction, AnaCap was suggested by Orrick, which served as authorized counsel.
AnaCap MD Alberto Sainaghi stated: “We’re excited to work with Manfredo and the Edge staff to drive operational excellence in addition to additional growing their specialised inorganic development technique within the fragmented Italian brokerage market.
“We stay up for constructing upon Edge’s spectacular achievements in recent times and their robust market status.”
Edge CEO and founder Manfredo Sciarretta acknowledged: “By becoming a member of forces with AnaCap, we’ve got the right monetary and strategic accomplice to additional speed up the inorganic development trajectory that Edge started in 2019. Their in-depth sector data, operational assist and capital availability makes them a number one determine within the personal fairness market throughout the monetary and insurance coverage sectors.”
