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Investor interest is mounting in German broking assets. -
The business is majority-owned by Castik Capital.
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The sale price represents Elephant’s approximate net asset value.
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The IGH closure is bitter for employee investors left with nothing – but such investments are inherently risky.
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Integro’s debt outweighed Tysers’ earn-out plus proceeds from 9 million AUB shares.
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Reported income for the year rose 24% to $1.98bn.
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The executive said MGA and broking start-up activity looked set to continue.
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Is the MGA start-up boom here to stay?
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Some firms are broadening their M&A net in light of PE firms showing more restrained appetite for intermediaries.
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PIB’s broadened sale process is symptomatic of wider investor sentiment around brokers.
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The broker is understood to be seeking a consideration of £3.75bn+.
