• Bridgepoint to acquire a majority stake in HBC from Preservation Capital Partners
• HBC has quadrupled its EBITDA since inception through a combination of organic growth and M&A
• The partnership will support HBC’s strategy to accelerate M&A, scale its MGA engine, and drive organic growth and digitisation

Bridgepoint, one of the world’s leading quoted private asset growth investors, today announced that it has agreed to acquire a majority stake in HBC (Hanseatic Broking Center), a leading independent SME+ insurance distribution platform in the DACH region. The transaction sees Bridgepoint partner with the HBC management team and founders, who will remain significantly invested, while Preservation Capital Partners will fully exit its holding.

Founded in 2022 through the merger of three long-established specialty brokers and a managing general agent (MGA), HBC has quickly established itself as one of the leading consolidators in the DACH region. MGAs are insurance intermediaries authorised to underwrite policies and manage claims on behalf of insurers, often operating in niche or complex markets like marine, travel or cyber insurance where specialist expertise is essential. Since inception, the business has quadrupled its EBITDA through a combination of continued organic growth and M&A.

The platform serves over 40,000 clients across multiple insurance lines and generates over a third of its revenue from its fast-growing MGA segment. It is led by Executive Chairman and co-founder Gert Schlossmacher and CEO and co-founder Hauke Martinsen, who together bring more than 60 years of experience across the insurance value chain.

With Bridgepoint’s support, HBC aims to build a fully integrated platform combining specialist commercial broking and MGA capabilities and accelerate its growth across the DACH region and beyond.

Recent acquisitions have strengthened HBC’s capabilities across priority lines and regions, including LTA, a travel-focused MGA; Schomacker, a boat hull and liability broker; and Schinner, a property specialist. These additions reflect HBC’s strategy of expanding its specialist offering and deepening underwriting capabilities to meet growing client demand.

That demand is being driven by macro trends. The German SME insurance market is the largest in Europe, generating €37bn in gross written premium and €5bn in broker commissions. With broker penetration at 60%, significant consolidation white space remains in the mid-sized broker segment. Meanwhile, the German MGA market – currently just 5% penetrated – is expected to grow c.15% annually as insurers increasingly outsource underwriting.

Bridgepoint brings deep experience in financial services and specialist distribution, and consolidation plays, having backed platforms such as Element, Kereis and a number of insurance-focused consolidators across Europe. The transaction also continues Bridgepoint’s strong track record in supporting businesses in the DACH region, including investments in Axplora, a leading API manufacturer headquartered in Germany; Infinigate, a cybersecurity software distributor based in Switzerland with significant operations in the DACH region; and PTV Group, a German mobility software company focused on transport and logistics optimisation.

Gert Schlossmacher, Co-Founder and Executive Chairman of HBC, said:

“Our vision has always been to build the leading integrated insurance distribution platform for SMEs in Germany, combining local expertise, specialist knowledge and digital tools to serve a segment that’s still significantly underserved. With Bridgepoint, we’ve found a partner that understands both the opportunity and the operational discipline needed to capture it. This partnership allows us to accelerate our M&A strategy, scale our MGA capabilities, and continue building a platform that’s attractive for clients, carriers and entrepreneurs alike.”

Hauke Martinsen, Co-Founder and CEO of HBC, said:

“We’ve built HBC around a clear belief: that specialist, independent advice is more important than ever for SMEs. I’m proud of what we’ve created so far, a platform that brokers trust, clients rely on, and insurers want to partner with. With Bridgepoint behind us, we’re in a great position to keep scaling that model, strengthen our MGA proposition, and unlock even more opportunities for our team and our clients.”

Chris Brackmann, Partner at Bridgepoint with responsibility for investments in DACH, said:

“HBC is a standout business in a structurally attractive market: an ambitious, founder-led platform with a proven track record of growth. With strong market fundamentals and visible white space for consolidation, we see a clear opportunity to build the leading platform in the DACH region. We’re excited to partner with Gert, Hauke, Sebastian, Johannes and the team to help realise that ambition and create the next leader in European insurance distribution.”

Carsten Kratz, Partner at Bridgepoint and Head of DACH, said:

“Germany’s SME sector is the backbone of the economy yet remains underserved when it comes to tailored insurance solutions. HBC stands out for its entrepreneurial team, specialist focus, and impressive growth trajectory. With a strong foundation and clear strategic direction, we see significant potential to help HBC scale further, deepen its MGA capabilities, accelerate digitisation, and broaden its reach across the region.”

Jeroen Bischops and Armin Holeisen, Preservation Capital Partners, said:

“It has been a privilege to support Gert and the team through HBC’s formative years. In just three years, they’ve built one of the most dynamic and fastest-growing insurance distribution platforms in Europe. Our ambition from the outset was to support the team in creating a best-in-class integrated insurance distribution platform, and we’re extremely proud of what we’ve achieved together. We look forward to seeing the next chapter of HBC’s development under Bridgepoint’s ownership and sincerely wish management and Bridgepoint all the best for the future.”

The transaction is subject to customary closing conditions, including regulatory approval and is expected to complete in Q3 2025.

Bridgepoint was advised by Rothschild & Co (Financial Advisor), Nomura (Financial Advisor), Kirkland & Ellis (Legal Advisor), McKinsey & Company (Commercial Advisor), EY (Financial, Tax, Cyber, ESG), Ommax (AI/Digital), and Schuberg Philis (IT).

HBC and PCP were advised by Macquarie Capital (Financial Advisor), Sidley Austin (Legal Advisor), PwC (Financial and Tax Advisor), L.E.K Consulting (Commercial Advisor), BMS Group (W&I Advisor) and Chris Patrick Consulting (Debt Advisor).