assona GmbH secures mezzanine funding

  • Feb 2014
  • Business Services
  • Sell-Side

The Business Services sector team at Livingstone Düsseldorf has helped SchneiderGolling-Group optimise the capital structure of its subsidiary assona GmbH by raising fresh capital. Investor BE Beteiligungen GmbH & Co. KG is supporting the future development of annex insurance underwriting agent assona with a tranche of mezzanine funding.

Livingstone had previously supported Düsseldorf headquartered SchneiderGolling-Group, one of the leading added-value insurance brokers in Germany, in Spring 2013 when the group originally acquired assona from private equity investor Heliad Equity Partners GmbH & Co. KGaA.

Berlin-based assona is an established provider of specialty insurances and offers warranty extensions and pro-tection plans mainly for mobile and stationary electronic products. The company currently employs approx. 70 employees and, with over 700,000 customer contracts, assona is a leading provider in Germany and Austria.

Cologne-based BE Beteiligungen GmbH & Co. KG is an independent growth capital investor actively investing into established mid-market companies, predominantly growth capital into so called “hidden champions” within the German Mittelstand.

“As a result of the new investment, assona has the essential freedom to pursue its growth plan in the mid-term.” said Ralf Schneider, Managing Director of SchneiderGolling-Group. “Due to Livingstone’s support it was possible to successfully secure additional external funding very soon after the acquisition of the business a couple of months earlier. The team supported us in a practical, flexible and efficient manner throughout the whole process.”

“We are delighted that SchneiderGolling-Group and assona GmbH have welcomed BE Beteiligungen GmbH & Co. KG on board as a mezzanine provider. We are looking forward to support their further growth path in the mid-term future.” said Rolf Brodbeck and Roland Eschmann, managing directors of BE.

Dr. Ralf Nowak, Partner at Livingstone Düsseldorf, added: “It was a pleasure to work again with SchneiderGolling-Group and provide assona GmbH with a sound footing to accelerate its growth. We had already a deep knowledge of the business and knew team members on all three sides of the transaction, which was key to a successful closing within the very limited time frame.”

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