Oakley Capital invests in Spanish insurance broker Acierto

Oakley invested in the company via its Oakley Capital Private Equity III fund, which held a final close on €800m in October 2017 surpassing its initial €750m target.

Oakley Capital Investments' indirect contribution through its interest in its third fund is expected to be approximately £17m.

The acquirers will form a joint-venture holding company by merging Acierto with Rastreator, a Spain-based digital broker owned by Admiral and Mapfre. Admiral and Mapfre will retain the majority ownership in the holding company while Oakley will control a minority stake alongside management.

Rastreator is currently 75% owned by Admiral and 25% by Mapfre, while Acierto is majority-owned by its two founders, Carlos and Mario Brüggemann, who will retain a stake in the combined group following the transaction. In 2018, Rastreator generated revenues of €29m and Acierto recorded a turnover of €13m.

Company
Established in 2007 and headquartered in Madrid, Acierto is a digital insurance broker that enables consumers to compare prices from 30 car, motorcycle, health, life and home insurance providers. The business is composed of two companies – Asesor Seguros Online and Asesor Consumer Services – and generated revenues of €13m in 2018.

People
Oakley Capital – Peter Dubens (managing partner).
Admiral Group – David Stevens (CEO); Elena Betés (European and emerging price comparison CEO).
Acierto – Mario Brüggemann (managing director, co-founder); Carlos Brüggemann (co-founder).

Advisers
Equity – Macquarie Capital (corporate finance).
Acquirer – Clifford Chance (legal); Fenchurch Advisory Partners (corporate finance); KPMG (financial due diligence).

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• Topics
• Buyouts
• Southern Europe
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• Oakley Capital
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• KPMG
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• Clifford Chance