Houlihan Lokey Advises TA Associates

Houlihan Lokey is pleased to announce that TA Associates, a leading global private equity firm, has acquired a minority stake in MRH Trowe (MRHT). The transaction closed on July 7, 2023.

MRHT is one of the 10 largest German industrial insurance brokers, with more than 1,100 employees and €650 million of premium volume, offering comprehensive expertise in practically all insurance lines for industrial and commercial clients, financial institutions, as well as high-net-worth individuals. The owner-managed company has a holistic advisory offering, specialised teams of experts, and a high degree of digitalisation at the interfaces of clients, brokers, and insurers.

In the last 2.5 years, MRHT has completed 21 bolt-on acquisitions, complementing existing product propositions, client coverage, and its geographical footprint. During this time, MRHT has also demonstrated a strong double-digit organic growth rate.

TA Associates has signed an agreement to acquire a minority stake in MRHT from existing shareholders AnaCap and MRHT’s founding managers. Post-transaction, the founding managers will remain the largest shareholder group and will be backed by both AnaCap and TA Associates moving forward. Closing of the transaction is subject to EU antitrust approval.

The new growth partnership with TA Associates will further accelerate MRHT’s growth trajectory and cement its position as a leading insurance broker in the DACH region. The group is now on track to deliver more than €150 million of revenue in 2023.
Houlihan Lokey served as the exclusive financial advisor to TA Associates. This most recent transaction further strengthens the firm's leadership in the insurance vertical across Europe, adding a German transaction to those recently completed in Scandinavia, Benelux, the UK, France, and Spain.