Insurance brokerage Brown & Brown is acquiring Netherlands-based broker Quintes Holding from the latter’s management ownership team and private investment firm Aquiline Capital Partners.
Trading since 2012, Quintes gained backing from Aquiline around four years ago. Under Aquiline’s ownership, the Dutch company has executed over 80 acquisitions while maintaining organic growth. Quintes currently caters to around 200,000 SME and retail clients through its broking, managing general agent, and pensions divisions.
“We partnered with Quintes in 2020 with the goal of establishing a leading nationwide insurance broker in the Netherlands,” Aquiline managing partner Igno van Waesberghe recalled. “Over this period, we have strengthened Quintes’ commitment to the SME market, successfully integrated numerous acquisitions, and significantly expanded its business capabilities and carrier relationships.
“Brown & Brown’s acquisition is a testament to the strong business we have built together. The entire Aquiline team and I have enjoyed working with Gijsbert and his team, and we wish them great success in this next chapter.”
The managing partner was referring to Quintes founder and chief executive Gijsbert van de Nieuwegiessen, who cited his camp’s “highly successful” collaboration with the private investment firm.
“Their support has been crucial in achieving our recent growth and current scale, positioning us for an exciting future with further expansion in partnership with Brown & Brown,” said the CEO, who will continue to lead Quintes across its 18 locations in the Netherlands.
Meanwhile, Brown & Brown Europe chief executive Mike Bruce (pictured) had this to say about the swoop: “Gijsbert and the team at Quintes share our commitment to always doing what is best for customers, teammates, and carrier partners. Their position as an industry leader in the Dutch market will further expand our international footprint and broaden the scope of our global capabilities.”
Commenting further, van de Nieuwegiessen added that his team of around 700 people has found a forever home in Brown & Brown.
“Quintes and Brown & Brown are like-minded organisations that share a common culture, values, and purpose,” he stated. “For our customers, this move will bring access to additional capabilities, services, and solutions, as well as the market strength of a global network.
“For our Quintes teammates, it will bring opportunities to grow professionally and personally. All of us at Quintes look forward to becoming teammates of an industry-leading and customer-focussed group of professionals.”
The transaction, financial terms of which were not disclosed, is anticipated to be completed in the fourth quarter, pending regulatory approvals and customary closing conditions.
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