KPMG Law Rechtsanwaltsgesellschaft mbH (KPMG Law) advised Prinas Montan GmbH, a subsidiary of Degussa Bank Group, on the acquisition of Munich-based InsurTech company Munich General Insurance Services.
The Degussa Bank Group, which focuses on Worksite Financial Services, continues to drive forward its digital transformation. Its wholly owned subsidiary Prinas Montan, which specializes in brokering insurance for company employees, acquired Munich General Insurance Services GmbH. Founded and based in Munich in 2014, the startup is a technology company that sells software as a service under the “Mobilversichert” brand. It offers insurance brokers and their customers infrastructure for the digital control and management of their portfolios. For Prinas Montan, the acquisition will result in synergies in the area of insurance brokerage. This is because the trend is increasingly toward digitization of the customer interface and end-to-end automation of processes.
Parts of the legal due diligence as well as the purchase negotiations were lead-managed by Dr. Philipp Wüllrich, KPMG Law. KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG) performed the tax and financial due diligence and provided tax advice. Dr. Mario Herz, Managing Director of Prinas Montan, commented: “KPMG Law’s expertise in venture capital and technology transactions and its integrated advisory approach resulted in optimal support. The entire process was very professional and KPMG Law helped to bring the deal to a successful conclusion.”
Advisors Prinas Montan GmbH
KPMG Law Rechtsanwaltsgesellschaft mbH: Dr. Philipp Wüllrich, Partner, Venture Capital/M&A, Cologne, Johanna Schindler, Manager, Venture Capital/M&A, Frankfurt, Dr. Martin Trayer, Partner, Labor Law, Frankfurt, Sebastian von Rüden, Senior Manager, IP, Düsseldorf
KPMG AG Wirtschaftsprüfungsgesellschaft: Sandra Grote and Corina Meyer, both Tax, Munich, Thomas Gross, Deal Advisory, Frankfurt
Advisor to seller
Osborne Clarke: Dr. Benjamin Monheim (Venture Capital, Cologne)
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