10-Aug-2021

goetzpartners advised VHV

Deal announcement

goetzpartners advised VHV on its acquisition of InterEurope AG

goetzpartners was mandated as exclusive M&A and Commercial advisor by leading German insurance group VHV Holding AG ("VHV") on the acquisition of InterEurope AG ("InterEurope"). Following the acquisition of Eucon in 2020, this is goetzpartners' second successfully executed transaction for VHV within the past twelve months.

InterEurope AG is an independent, owner-led service company that handles claims under the Green Card system on behalf of insurance companies, i.e. motor vehicle accidents abroad and motor vehicle claims by foreigners in Germany. In addition, InterEurope settles transport and hull claims, recourses, and legal protection cases Europe-wide. InterEurope was founded in 2004 and currently employs circa 180 employees serving more than 200 clients across Europe. Through the acquisition of a majority stake in InterEurope and following the acquisition of Eucon GmbH at the end of last year, VHV Group continues its successful expansion within insurance-related services. VHV expects that InterEurope will likewise be able to achieve synergetic effects, especially in combination with Eucon GmbH, and that both companies will mutually strengthen each other's respective market strategies and competencies.

Uwe Reuter, CEO of VHV Group, on the acquisition: "InterEurope AG has an excellent fit with our strategy of developing a new business segment alongside our very successful traditional insurance business in which we combine selected insurance-related businesses that have a proven market approach and offer an opportunity for digitalization. The prerequisite is always that we are familiar with the business and can reliably assess it. In addition to our substantial investments into internal digitalization initiatives, we are continuing to invest in areas that offer services that are forward-looking and can be digitalized."

Thomas Voigt, Member of the Board of Management for Composite Insurance at VHV Holding AG: "With its business in the area of motor vehicle claims settlement, InterEurope AG is an excellent fit for us. At the same time, InterEurope AG will be able to benefit greatly from Eucon GmbH's data and process expertise. Vice versa, we expect Eucon GmbH to benefit from InterEurope AG for the further internationalization of Eucon's business. Last but not least, our customers and our entire Group will benefit from this, especially through our further digitalization."

Holger Backu, CEO of InterEurope AG: "We are delighted about the new connection to the VHV Group which will help us to establish InterEurope AG as a European champion in the field of motor claims settlement. It is an expression and continuation of our strategy to expand our leading position in the settlement of international motor claims on behalf of European insurers by consistently strengthening our professional and digital expertise on the basis of our strong German home market. This will benefit our domestic and foreign insurance customers."

goetzpartners acted as sole and exclusive M&A buy-side and Commercial Due Diligence advisor to VHV. We are pleased for being mandated by VHV for the second time within the past twelve months and following the successful acquisition of Eucon. This outstanding result of our joint M&A and Commercial Due Diligence teams underlines our competence as advisor of choice. The terms of the transaction were not disclosed.

About VHV
VHV Group – with its core companies VHV Allgemeine Versicherung AG and Hannoversche Lebensversicherungs AG – is a competent and reliable partner in the insurance, pension and asset management sectors. The company is strongly based on a robust business policy that builds on tradition and experience on the one hand, and sets itself new forward-looking goals on the other. The companies of the VHV Group are specialized experts operating independently in clearly defined sub-markets. VHV Allgemeine Versicherung AG is a long-established specialist building insurer (founded in 1919) and one of the largest German motor and liability insurers. The main sales channel is based on cooperation with around 14,000 qualified independent insurance brokers. The company employs around 3,300 employees at various locations and serves some 4.9 million customers. The gross premium revenue earned amounts to EUR 3.5 billion. The company is headquartered in Hannover.

About InterEurope
InterEurope AG is one of the leading European specialists for the settlement of motor vehicle claims with a focus on international motor vehicle claims under the Green Card system and claims within the scope of the 4th Motor Insurance Directive. Due to its in-depth legal experience in motor liability law in many European countries and a consistent digitalization strategy, InterEurope is a reliable long-term partner of more than 200 insurance companies in Europe. The company is headquartered in Düsseldorf and operates 11 offices across Europe.

Transaction Team

M&A Team
Dr. Stephan Goetz
Managing Partner

Gerwin Weidl
Director
Email

Fabio Riva
Associate

Moritz Schneider
Analyst

CDD Team
Dr. Gerrit Schütte
Managing Director

Gerrit Bückins
Manager
Email

Edwin Steffan
Consultant

Amir Murathodzic
Consultant

Rosa Frehen
Associate Consultant