GGW Group secures investment from Permira

Permira , the global private equity firm, announced that a company backed by the Permira funds has agreed to acquire GGW Group.

GGW Group is a European insurance brokerage platform for small and medium-sized enterprises currently owned by Hg, an investor in European and transatlantic software and services businesses.

Closing is subject to regulatory clearances and is expected in the second quarter of 2024.

Today, more than 50 brokerage companies are operating under the roof of GGW Group, advising small and medium-size enterprises in Europe.

“The backing from the Permira funds marks an important milestone and yet we are only at the very beginning of GGW’s success story. We are looking forward to working with Permira and are excited about the future as we continue to grow in Germany and expand further across Europe. Thanks to my fantastic colleagues we have surpassed all of our expectations, and quickly become a leading commercial insurance distribution platform in Germany and other European countries. The partnership with Hg has been a core pillar for our success.” – Tobias Warweg, CEO of GGW Group.

The Permira funds intend to support GGW Group in its acquisitive growth strategy in the highly fragmented German and European insurance brokerage industry.

“This investment really highlights what gets us out of bed in the morning at Hg. It started as an innovative and very entrepreneurial idea, building a high-quality business alongside a long-trusted partner, in a sector we’ve studied over decades. We’re delighted for the team and look forward to seeing their continued success.” – Justin von Simson and Benedikt Joeris, both Partners at Hg.