Latest news with #Bridgepoint
Yahoo
7 hours ago
- Business
- Yahoo
Hays Travel completes first online travel agency acquisition
Hays Travel has completed its first online travel agency acquisition. The Sunderland-based firm has acquired Victoria Travel Group, a major online cruise travel business. Included in the deal are the group's brands Seascanner, and the German division The deal includes the group's brands, Seascanne (Image: Supplied) Dame Irene Hays, owner and chair of Hays Travel, said: "This deal is an exciting and significant milestone for us. "This is our first online travel agency acquisition and a major step in our ambition to expand our footprint in the global cruise market. "We have been hugely impressed by the strength of the Victoria Travel Group and we are delighted to welcome Chris, Carl, Tony, and Tom to our business. "We look forward to working alongside them, exploring opportunities and learning from each other as we seek to continuously improve the choice, experience, and value we offer our customers." The acquisition follows a period of strong growth for Victoria Travel Group under majority shareholder Bridgepoint, who will now exit the business. Known for its digital-first approach, the group reported a total transaction value of £252 million in its most recent financial year. Chris Gardner, chief executive of Victoria Travel Group, said: "We're delighted to be joining the Hays Travel family. "Their values, customer-first approach, and long-term vision align with ours. "This partnership opens up exciting opportunities to grow our brands and deliver even more value to cruise customers in the UK and internationally." READ MORE: Rare coin exceeds auction expectations and sells for incredible £180,000 Bishop Auckland STACK venue to progress after funding lifeline Community breakfast club transforms lives, with support from believe housing Victoria Travel Group employs more than 270 people. Hays Travel has confirmed there are no plans to change roles or reporting lines. As part of the deal, Jonathon Woodall-Johnston, chief operating officer of Hays Travel, and Jo Rzymowska, non-executive director, will join the Victoria Travel Group board.
Yahoo
a day ago
- Business
- Yahoo
Bridgepoint to buy majority stake in German insurer HBC
Bridgepoint has reached an agreement to acquire a majority stake in Hanseatic Broking Center (HBC), a Germany-based insurance distribution platform, for an undisclosed sum. The transaction will see Preservation Capital Partners divest its entire stake in the company. Bridgepoint said it will forge a partnership with HBC management and founding members, who will retain a considerable investment in the business. Since its establishment in 2022, HBC has been operating in the German-speaking insurance market, servicing upwards of 40,000 clients and overseeing a premium volume in excess of €600m ($693.07m). Under Bridgepoint's stewardship, HBC aims to create an integrated platform by merging its commercial broking with managing general agent (MGA) functions in Germany, Austria, Switzerland (DACH) and beyond. HBC co-founder and CEO Hauke Martinsen said: 'We have built HBC around a clear belief: that specialist, independent advice is more important than ever for SMEs [small and medium-sized enterprises]. I am proud of what we have created so far, a platform that brokers trust, clients rely on and insurers want to partner with. 'With Bridgepoint behind us, we are in a great position to keep scaling that model, strengthen our MGA proposition, and unlock even more opportunities for our team and our clients.' HBC recent acquisitions include LTA, which specialises in travel insurance, Schomacker, which deals with marine insurance, and Schinner, which focuses on property insurance. Bridgepoint partner and head of DACH Carsten Kratz stated: 'HBC stands out for its entrepreneurial team, specialist focus and impressive growth trajectory. 'With a strong foundation and clear strategic direction, we see significant potential to help HBC scale further, deepen its MGA capabilities, accelerate digitisation and broaden its reach across the region.' The deal, due to be finalised in the third quarter of 2025, is contingent upon standard closing conditions and regulatory consent. In May, Bridgepoint entered exclusive negotiations for the sale of Kereis, a multi-channel insurance brokerage in Europe, to Advent, a private equity firm. "Bridgepoint to buy majority stake in German insurer HBC " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 days ago
- Business
- Bloomberg
Bridgepoint to Buy Majority Stake in German Insurance Broker HBC
Bridgepoint Group Plc agreed to acquire a majority stake in German insurance broker Hanseatic Broking Center GmbH from Preservation Capital Partners. The transaction sees Bridgepoint partner with HBC's management team and founders, who will remain significantly invested, according to a statement on Tuesday that confirmed an earlier Bloomberg News report. Preservation Capital will fully exit. While financial terms weren't disclosed, people familiar with the matter have said the deal values HBC at €700 million ($810 million) or more.
Yahoo
22-07-2025
- Business
- Yahoo
Compass Group to acquire Vermaat from Bridgepoint
Compass Group has agreed to purchase Dutch food services company Vermaat Groep for an enterprise value of €1.5bn ($1.74bn) from private equity company Bridgepoint. Bridgepoint will completely divest its stake, alongside Partners Group, which initially invested in Vermaat in 2015 and retained a minority interest following Bridgepoint's investment in 2019. Founded in 1978 as a delicatessen, Vermaat has evolved into a key player in the Dutch food services sector. The company began its partnership with Bridgepoint in 2019. Compass describes Vermaat as a 'high-performing' multi-sector platform that presents a 'unique opportunity' for sustainable growth within Europe. Vermaat holds a leading position in the Netherlands and is expanding its footprint in Germany and France, both of which are among Compass Group's top ten markets. The company has achieved a compound annual growth rate close to 20% since 2010, alongside good profit margins. Vermaat is projected to generate sales of €700m with a double-digit operating margin by 2025. The acquisition is anticipated to enhance Compass Group's margins and earnings per share in the first full year of ownership. Upon completion of the deal, Compass expects its post-acquisition leverage to be approximately 1.5 times net debt to earnings before interest, taxation, depreciation and amortisation by the end of FY26, prior to a reduction in FY27. This transaction is pending regulatory approval and consultation with the Vermaat Works Council. Compass Group CEO Dominic Blakemore stated: " Vermaat is a best-in-class food services business which will significantly strengthen Compass Group's premium offer across Europe and will provide us with exceptional leadership talent.' The management team of Vermaat will join Compass Group upon completion of the transaction and will continue to operate the business on a standalone basis. Vermaat CEO Rick Zeelen stated: "Compass and Vermaat are highly complementary businesses with similar cultures and priorities. The leadership team remains fully committed to executing its European growth strategy. 'Together, subject to regulatory approval, we will be able to provide clients with an even more compelling proposition in a highly attractive growth market, accelerating our premium offering in Europe. We look forward to joining Compass and the exciting journey ahead." In 2024, Compass Group UK & Ireland's Compass One division announced the purchase of Peabodys Coffee, a provider of food and beverages within healthcare environments. "Compass Group to acquire Vermaat from Bridgepoint" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
22-07-2025
- Business
- Bloomberg
Bridgepoint Said to Sell Vermaat to Compass in €1.5 Billion Deal
Bridgepoint Group Plc is selling a majority stake in Vermaat Groep BV to Compass Group Plc in a transaction that values the Dutch caterer at about €1.5 billion ($1.8 billion), according to people familiar with the matter. Bridgepoint will fully exit its holding through the deal, the people said, who asked not to be identified as the information is private.
