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Allianz Partners, a global provider of assistance and insurance solutions, has agreed to fully acquire the share capital of Servicios Compartidos Multiasistencia from private equity funds managed by Portobello Capital, and minority shareholders.
Multiasistencia Group is a provider of repair-in-kind solutions for homes and businesses on behalf of insurers and other intermediaries, which operates in Spain, France, Portugal, Italy, Luxembourg, and Brazil.
The deal, expected to close in autumn 2018 pending regulatory approvals, is set to enhance Allianz Partners' leadership in the home-and-assistance market, as well as boost Multiasistencia's development capabilities and geographical reach.
“The acquisition of Multiasistencia is a major milestone in our long-term growth strategy,” said Rémi Grenier, CEO of Allianz Partners. “It strengthens our position in key markets, enabling growth and acceleration and expanding our offer to our global customers whilst combining expertise and innovation to continue to deliver true customer-centric solutions.”
After the transaction, Multiasistencia will continue to operate separately from Allianz Partners' brand and business model, to safeguard the neutrality of the service offer.
“This agreement allows us to maintain our autonomy, objectivity, and total commitment to clients,” said Javier Bartolomé, CEO of Multiasistencia. “In addition, we are fully confident that the integration into Allianz Partners’ culture and that the combined capacities of both companies will allow for stronger growth, improvement of the service provided, and an increase in solutions for our customers.”
Allianz Partners' offerings are available to business partners or via direct and digital channels under commercial brands Allianz Assistance, Allianz Care, Allianz Automotive, and Allianz Travel.
