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Cobepa Enters Into Exclusive Discussions to Acquire Ascentiel Groupe From IK Partners and ISAI
Brussels/Rueil-Malmaison, 6 November 2024 – Cobepa is pleased to announce that it has entered into exclusive discussions with IK Partners (“IK”), ISAI Gestion (“ISAI”) and Bertrand Liber to acquire a majority stake in Ascentiel Groupe ("Ascentiel" or “the Group"), a leading digital insurance brokerage platform providing Property & Casualty ("P&C") cover for individuals and small businesses in several specialty niches. The acquisition will be made in partnership with the management team and is subject to consultation with the works council. The transaction is expected to close before the end of 2024 and financial terms are not disclosed.
Founded in 1970, Ascentiel has established itself as a leading digital brokerage platform specialising in the distribution and management of non-life insurance contracts for both individuals and professionals. Having developed significant expertise in the field of car insurance, the Group mainly focuses on near-to-sub-standard motor insurance risks, leveraging the prominence of its flagship brand Assurpeople.com and its fully digital customer experience. The Group covers the entire insurance distribution cycle, from product co-development with insurers to underwriting or contract and claim management.
Over recent years, Ascentiel has continued to diversify its offering to include attractive new specialty products, most notably through the highly successful launch of Airbag, a wholesale brokerage platform specialised in inherent defect insurance for construction professionals. Since then and with the support of IK and ISAI, the Group has achieved several strategic objectives and successfully executed add-on acquisitions, including Atara in 2022 and NIBW in 2024. The acquisition of Atara strengthened the Group's position in the pet insurance sector, while the acquisition of NIBW facilitated the Group's geographic expansion into Spain and Portugal. At present, Ascentiel employs over 180 people who are based across its headquarters in Rueil-Malmaison as well as its offices in Aix-en-Provence and Madrid. In partnership with leading insurance companies operating in France, Ascentiel manages contracts for over 220,000 end-clients.
About Ascentiel Groupe
Founded in 1970, Ascentiel Groupe ("Ascentiel") has evolved into a premier insurance brokerage group, encompassing eight distinct brands, catering to both individual and professional insurance markets. Ascentiel offers a comprehensive suite of insurance solutions, ranging from auto, animal health and home coverage for individuals to specialised products for commercial clients, including decennial liability coverage for construction professionals and insurance for commercial vehicle fleets. Operating under delegated authorities, Ascentiel manages all aspects of policy lifecycle, from underwriting to claims management, ensuring top-tier service and compliance. For more information, visit ascentiel-groupe.com
About Cobepa
Cobepa is an independent, privately held investment company with offices in New York, Brussels, and Munich. Cobepa manages a diverse portfolio of private equity investments representing approximately €4.7 billion of equity capital. Cobepa invests in leading companies with superior business models, sustainable market positions and leading management teams. For more information, visit cobepa.com
About IK Partners
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com.
About ISAI Gestion
ISAI Gestion (« ISAI ») is one of the pioneers in the French Tech ecosystem. Co-founded in 2009 " by and for " Tech entrepreneurs, ISAI gathers today more than 450 Entrepreneurs-LPs alongside major Institutional Investors. With offices in Paris, London, Milan and NYC, ISAI manages c. €900 million across four investment strategies: Early-Stage Venture, Corporate Venture, Growth Lending and Tech Buyout. For more information, visit isai.vc