MLP to acquire German industrial insurance broker

Germany-based MLP SE has signed a contract to fully acquire RVM Versicherungsmakler Gmbh & Co. KG and its key subsidiaries.

The purchase price to be paid to two shareholders is in the mid-double-digit million range, linked in retrospect to the quality of business development up to the end of 2022. MLP will pay nearly half of the consideration from its cash funds.

The target is an industrial insurance broker focused on medium-sized clients and has about 200 employees. It will continue to operate under the same brand and with its current management following the transaction.

The transaction is expected to be implemented in the second quarter, with economic effect from Jan. 1, subject to approval by the competition authorities.

MLP expects a mid-single-digit EBIT contribution on an annual basis from the new industrial insurance broker segment from 2022, the first full financial year. This segment will initially comprise RVM after the deal completion.

GSK Stockmann and Ernst & Young advised MLP, while RWT Anwaltskanzlei GmbH and Reutlinger Wirtschaftstreuhand GmbH advised RVM on the transaction.