Five Arrows Principal Investments has completed an investment in the SUCSEZ Groep
Press release: Five Arrows Principal Investments has completed an investment in the SUCSEZ Groep
Capital A and the Sucsez Groep (“Sucsez”) are pleased to announce that Five Arrows Principal Investments (“FAPI”) has completed the acquisition of a majority stake in Sucsez. Marco Gregoor, CEO, and Frank Germans, CCO, will hold a material stake in the company alongside FAPI, whilst Capital A has fully exited their investment. The existing management team, including Niels Mulling (CFO) and Bas van Twillert (COO) will also remain in place providing continuity in strategy and service levels to customers.
Sucsez is a leading tech-enabled distribution platform in the Dutch insurance market, focused on SME customers, and particularly strong in Income Protection (IP) insurance. The group was formed when Capital A and management acquired Sucsez in 2016 to pursue an ambitious growth strategy, both organically and through acquisitions. The merger with the Heilbron Group in 2017 brought a significant increase in scale, and today the group provides a complete service offering to its insurer and broker partners under a number of brands, including Heilbron (Intermediary), Mandaat (Managing General Agent), De Verzuimeconoom (reintegration and working conditions) and UPIVA (service provision).
Sucsez is headquartered in Doetinchem and operates from 12 locations across the Netherlands with 500 employees, and generates more than €60 million of revenue (coming from about EUR 6m in 2016), having grown both organically and through 11 acquisitions (in the last three years), the most recently of which are Hemelraad and Keijzer in De Lier and Branche Benefits in Assen.
Marco Gregoor, CEO of Sucsez said “We are very excited to be partnering with Five Arrows for the next stage of growth. The combination of their proven expertise in using technology to drive value and build scale together with their deep network across Europe made them a compelling partner to help us further shape our growth strategy in a disciplined way.”
“We are deeply grateful to our customers and stakeholders for their continuing support. Their needs remain at the forefront of our strategy as we create an integrated group with a common vision, a clear service mindset and a shared technology platform. We also expect to continue our strategy of consolidating the market, and by the end of 2019, three additional companies will have been acquired by Heilbron,” continued Frank Germans, CCO, responsible for the group's commercial policy.