MLP SE
MLP SE: MLP signs a contract for acquiring 100 percent of industrial insurance broker RVM
MLP SE / Key word(s): Mergers & Acquisitions/Takeover Today MLP, through its wholly owned subsidiary MLP Assekuranzmakler GmbH, has signed a contract for acquiring a 100 percent stake in RVM Versicherungsmakler GmbH & Co. KG, including its key subsidiaries (“RVM”). With the transaction, MLP is strategically expanding its market position for commercial and industrial insurance and laying the foundations for further acquisitions of medium-sized market players in this consulting field. With MLP Assekuranzmakler GmbH as an intermediate holding company, a new industrial insurance broker segment will be created. The total purchase price is in the mid-double-digit million range. It comprises a mechanism by which part of the purchase price is linked in retrospect to the quality of business development up to the end of 2022. RVM is an industrial insurance broker that focuses on medium-sized clients. It has around 200 employees that serve more than 2,500 companies. RVM generated sales revenue of just under EUR 19 million in 2019. MLP is anticipating a mid-single-digit EBIT contribution on an annual basis from the new industrial insurance broker segment from the first full financial year onwards, the year 2022. This segment will initially comprise RVM after completion of the transaction. The acquisition is expected to be completed in the second quarter 2021 with economic effect from January 1, 2021, subject to approval by the competition authorities. A significant portion of RVM’s EBIT is generated in the first quarter of a year due to the seasonal nature of the business. Until the transaction is implemented, the result for the year 2021 will be recognized in equity capital. EBIT represents an alternative KPI, which is described in further detail at: https://mlp-se.com/investors/mlp-share/key-figures/ Contact/notifying person: Jan Berg Head of Corporate Communications Tel: +49 6222 308 4595 Email: jan.berg@mlp.de
08-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | MLP SE |
Alte Heerstraße 40 | |
69168 Wiesloch | |
Germany | |
Phone: | +49 (0)6222-308-8320 |
Fax: | +49 (0)6222-308-1131 |
E-mail: | investorrelations@mlp.de |
Internet: | www.mlp-se.de |
ISIN: | DE0006569908 |
WKN: | 656990 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
EQS News ID: | 1166833 |
End of Announcement | DGAP News Service |