OCI Oakley Capital Investments Limited

20 November 2024

Oakley Capital Investments Limited

Oakley Capital Investments Limited¹ ("OCI") is pleased to announce that Oakley Capital Fund V² ("Fund V") has agreed to acquire Konzept & Marketing ("K&M"), a leading independent Managing General Agent in the German personal, non-life insurance market.

OCI's indirect contribution to Fund V is anticipated to be c. £14 million, which relates to OCI's share of Oakley's investment in K&M.

Further details on the transaction can be found in the below announcement from Oakley Capital³.

Oakley Capital invests in Konzept & Marketing

Oakley Capital, a leading pan-European private equity investor, is pleased to announce that Oakley Capital Fund V is investing in Konzept & Marketing ("K&M"). K&M is a leading, independent Managing General Agent ("MGA") in the German, personal non-life insurance market. Oakley will be investing alongside insurance veteran, Joachim Müller, former CEO of Allianz Commercial, who will oversee a buy-and-build strategy as Chairman.

Founded in 2001 and based in Hanover, K&M operates as an underwriting agent in Germany for private non-life insurance products (property, accident, liability), a growing market that is currently worth €28 billion. K&M develops, markets and administers tailored insurance products on behalf of insurance companies in an asset light model.

The Company has experienced continuous organic growth, driven by high and consistent renewal rates thanks to its strong reputation for customer care and a focus on providing innovative solutions delivered through seamless digital processes.

Germany's insurance distribution market is highly fragmented and lagging other markets such as the UK and US in the role that independent MGAs play as intermediaries. There is significant value creation potential for K&M to pursue a consolidation strategy spanning insurance brokerage and underwriting with differentiated product capabilities at its core.

In partnership with incoming Chairman Joachim Müller, Oakley will support the K&M management team to expand K&M's product offering, strengthen the distribution function of the business, and pursue further M&A opportunities. The acquisition is expected to complete in Q4 2024.

Oakley Capital co-Founder and Managing Partner Peter Dubens said: "Germany's insurance landscape is undergoing significant change, providing advantages for innovative businesses such as K&M to take on more of the insurance value chain while delivering a better service to end customers. We look forward to working with Joachim Müller to realise his growth and diversification strategy for the business, leveraging his strong reputation for successful business building and customer satisfaction." 

K&M Incoming Chairman Joachim Müller said: "By partnering with Oakley we can take advantage of their considerable expertise scaling businesses. We see enormous opportunity to create a leading player in Germany's insurance ecosystem by leveraging excellence in underwriting and distribution combined with modern technology".

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For further information please contact:

Oakley Capital Limited

+44 20 7766 6900

Steven Tredget

Greenbrook Communications Limited

+44 20 7952 2000

Rob White / Michael Russell

Deutsche Numis (Financial Adviser & Broker)

+44 20 7260 1000

Nathan Brown / Matt Goss

Notes:

LEI Number: 213800KW6MZUK12CQ815

¹ About Oakley Capital Investments Limited ("OCI")

OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims to provide shareholders with consistent long-term capital growth in excess of the FTSE All-Share Index by providing liquid access to private equity returns through investment in the Oakley Funds.

A video introduction to OCI is available at https://oakleycapitalinvestments.com/videos/. The contents of the OCI website are not incorporated into, and do not form part of, this announcement.

² The Oakley Funds

Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV, Oakley Capital V, Oakley Capital Origin Fund and Oakley Capital Origin II, are unlisted lower-mid to mid-market private equity funds that aim to provide investors with significant long-term capital appreciation. The investment strategy of the Funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Oakley family of funds also includes Oakley PROfounders Fund III and Oakley Touring Venture Fund, which are venture capital funds focused on investments in entrepreneur-led, disruptive, technology led companies.

³ Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.

For more information on the Oakley Fund strategies in which OCI invests, please click here.

Important information

Specialist Fund Segment securities are not admitted to the Official List of the Financial Conduct Authority. Therefore, the Company has not been required to satisfy the eligibility criteria for admission to listing on the Official List and is not required to comply with the Financial Conduct Authority's Listing Rules.

The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk from investing in companies admitted to the Specialist Fund Segment.

This announcement may include "forward-looking statements". These forward-looking statements are statements regarding the Company's objectives, intentions, beliefs or current expectations with respect to, amongst other things, the Company's financial position, business strategy, results of operations, liquidity, prospects and growth. Forward-looking statements are subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.  Accordingly the Company's actual future financial results, operational performance and achievements may differ materially from those expressed in, or implied by, the statements. Given these uncertainties, prospective investors are cautioned not to place any undue reliance on such forward-looking statements, which speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the Company's expectations with regard to them or any change in events, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.