PIB Group Limited, a Carlyle portfolio company, has acquired Marx Re-Insurance Brokers GmbH, based in Munich, Germany.
Founded in 2009, Marx Re is a reinsurance and insurance broking company with a global network of clients led by Mr. Oliver Marx. It has a major focus on business primarily in construction, power and renewable energy sourced from Greece, Germany, France and Latin America.
PIB Group is an insurance intermediary group aiming to create a leading position in the provision of specialist insurance solutions across the UK market and beyond. Launched in 2015, PIB has grown rapidly through acquisitions and by employing outstanding individuals with a wealth of knowledge and experience in the insurance market. The PIB Group offers a range of specialist teams, products and services to clients throughout the UK, Channel Islands, Ireland and Germany.
The previous owner Mr. Oliver Marx will remain with the business after the transaction.
GLNS advised the seller on the transaction. The team consisted of partners Dr. Daniel Gubitz (Corporate/M&A) and Andreas Scheidle (Tax), counsel Ferdinand Graf von Spreti (Corporate/M&A) and associate Eva Karolina Maier (Corporate/M&A).
CMS advised PIB with a team around Richard Mitterhuber, Astrid Roesener and Laura McIntosh.