The Ardonagh Group (Ardonagh) will acquire The Netherlands-based specialist commercial lines insurance broker Klap Verzekeringsmakelaar (Klap) from Nedvest.
Founded in 1854 and based in Amsterdam, Klap advises SME companies on employee benefits, insurance, and pensions and distributes over €100 million of GWP annually.
Under the leadership of Klap CEO Jorg Roodbeen and support from Nedvest partner Tim Kreté, Klap has grown significantly in recent years and cemented its position as a key player in the Dutch insurance market. It has achieved various milestones through a combination of an acquisition strategy and by maintaining operational excellence.
Ardonagh Europe will acquire Klap through its subsidiary – Ardonagh Netherlands BidCo B.V. (Ardonagh Netherlands) – with funding from Ardonagh’s available funds. Klap’s management team will remain with the business and is committed to its next growth phase.
“I am delighted that two insurance brokers with a long history have found each other with the support of a strong international shareholder,” Roodbeen said. “In recent years, we have been on a great journey to place ourselves on the map as a leading adviser for SMEs.
“I look forward to joining forces with the team at Ardonagh Europe [and] execute our shared
plan of growth through professionalism, high-quality service, and innovation. We will continue to leverage our experience and connections as we embark on this exciting new journey together.”
With the addition of Klap, Ardonagh Europe taps into over 230 years of Dutch insurance experience.
Ardonagh Europe CEO Conor Brennan said the major acquisition aligns with the group’s footprint internationally and in the European market.
“Alongside the vast expertise of Léons, Klap further diversifies our portfolio and our customer base in The Netherlands, creating a strong platform to accelerate our growth ambitions in the region,” Brennan said. “Jorg leads a highly experienced management team with deep expertise in the market. We look forward to rallying the scale and experience of the wider Ardonagh Group behind them as they continue their growth journey.”
The deal with Klap follows the Ardonagh Advisory’s acquisition of Stoke-on-Trent-based Pace Ward – a leading broker serving large commercial clients, prestige and high-performance cards, and high net worth (HNW) clients.
In February 2023, Ardonagh completed its acquisition of Envest, a Brisbane-based insurance investment and distribution group with over 31 financial services businesses and a footprint across Australia.
