Five Arrows buys Voogd & Voogd from Bencis

Bencis led the management buyout of Voogd & Voogd for an undisclosed amount in September 2013. The GP invested via its Bencis Buyout Fund IV vehicle.

FAPI closed its second fund on €775m in October 2015, less than a year after launch. FAPI II writes €20-70m tickets for European mid-market companies valued in the €50-500m range.

The transaction is still awaiting regulatory approval and is expected to complete in Q4 2017.

Company
Founded in 1909, Voogd & Voogd provides digital insurance broking services with a main focus on the automobile sector, linking insurance companies and insurance brokers. It operates as an umbrella company of Voogd & Voogd Verzekeringen, Voogd & Voogd Diensten, Delta Lloyd Schade Services and VanDien Serviceprovider. Based in Middelharnis, Netherlands, the firm generated a turnover of €27m in 2013 – this is now understood to have risen to €50m, with operating profit of around €10m.

The company employs 370 staff.

Advisers
Vendors – ABN Amro (corporate finance).

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• Topics
• Buyouts
• Exits
• Financials
• Benelux
• Rothschild
• Secondary buyout
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• Bencis Capital Partners