Houlihan Lokey Advises IK Partners and Yellow Hive

Houlihan Lokey is pleased to announce that IK Partners (IK) has successfully closed IK Small Cap II Fund’s divestment of Yellow Hive to a newly formed fund vehicle, IK Strategic Opportunities I Fund (IK SO I Fund). Representing IK’s first continuation fund, the IK SO I Fund will be managed by IK. The transaction was led by TPG GP Solutions, AlpInvest, and Pantheon. This transaction will allow IK, as well as the Yellow Hive founders and management team, to continue supporting the business over its next ownership cycle, with the benefit of fresh capital to execute on an attractive pipeline of opportunities.

Founded in 2011, Yellow Hive (formerly You Sure) is a leading Dutch insurance distribution platform with active broker and managing general agent capabilities, serving both small and medium-sized enterprises and consumers. Since IK’s investment in November 2020, the company has grown considerably, driven by strong organic growth and a track record of accretive M&A. Today, Yellow Hive covers all common and selected specialist risks, with access to both the Dutch and international insurance markets.

Houlihan Lokey served as M&A sellside advisor to IK Partners and Yellow Hive. This transaction further strengthens Houlihan Lokey’s leadership in the European insurance brokerage sector, where the team has recently advised on a number of transactions, including the sale of North Risk to Howden, GGW to Permira, Klap to The Ardonagh Group, TA Associate’s minority investment into MRH Trowe, and the sale of Säkra to Cinven.