IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire a majority stake in You Sure Investments B.V. (“You Sure” or “the Company”) from Synergia Capital Partners (“Synergia”). The transaction is subject to AFM clearance. Financial terms of the transaction are not disclosed.
You Sure is a leading Dutch insurance distribution platform, providing insurance to small businesses and individuals. Operating mainly in the Property and Casualty (“P&C”) segment, You Sure acts both as an insurance broker and a Managing General Agent (“MGA”), and currently serves over 60,000 customers.
Headquartered in Ridderkerk, You Sure employs over 130 people across seven offices in the Netherlands. The Company was founded in 2011 by Ger Knikman and Joep van den Eijkel, who have been active in the insurance industry for over 30 and 40 years, respectively, and have worked together since 2005. You Sure partnered with Synergia in March 2019 and following the sale to IK, the co-founders will be reinvesting in the business to support further growth.
The Company has significantly expanded its footprint over the last nine years through strategic acquisitions, a strong customer focus and its effective IT platform. To date, 35 insurance portfolios have been acquired and integrated into You Sure’s proprietary platform, which the Company plans to continue with IK’s support.
The transaction represents the 11th investment from IK’s €550 million Small Cap II Fund.
Ger Knikman, CEO of You Sure commented: “We have thoroughly enjoyed working with Synergia, and with their support we have achieved our three-year plan in just 18 months. As we embark on the next stage of our growth, we are delighted to partner with IK. With their established presence in the Netherlands and track record of delivering long-term value, we look forward to proceeding with our strategic pipeline of acquisitions while delivering strong organic growth.”
Sander van Vreumingen, Partner at IK and advisor to the IK Small Cap II Fund, said: “You Sure is a strong insurance platform that has shown impressive growth under the leadership of Ger and Joep. We are attracted by the Company’s focus on quality and customers’ relationships driven by its proprietary digital platform. With the sector about to embark on a phase of consolidation, we are excited to partner with You Sure and help the business grow further and deliver even more for its customers.”
Leo Schenk, Managing Director at Synergia, commented: “We have had a fantastic journey with You Sure over the last 18 months and sincerely enjoyed working with Ger, Joep and the team. With a strong platform, ambitious growth strategy and their knowledge of the insurance business, they have a strong future ahead of them with IK.”
For further questions, please contact:
Maitland/AMO
James McFarlane
T: +44 (0) 20 7379 5151
jmcfarlane@maitland.co.uk
IK Investment Partners
Nastasja Vojvodic
T: +44 (0) 20 7304 4300
nastasja.vojvodic@ikinvest.com
About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 135 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 www.ikinvest.com
About IK Small Cap II
The €550 million IK Small Cap II Fund (“IK Small Cap II” or “the Fund”) closed in 2018 and invests in growing businesses across IK’s four core sectors: Business Services, Consumer/Food, Engineered Products and Healthcare. Dedicated investment teams in Amsterdam, Copenhagen, Hamburg, London, Paris and Stockholm look to support businesses with an Enterprise Value of between c. €30 million and c. €100 million across the Benelux, DACH, France, Nordics and the UK. For more information, visit www.ikinvest.com/IK-Funds/ik-small-cap-ii-fund
