Transaction

Transaction Details

Closed
December 21, 2020

Sector

Technology, Software, AI (Artificial Intelligence), Tech-Enabled Services, Financial Technology and Services, Financial Technology, Insurtech (Insurance Technology), Business Services

Deal Type

Mergers and Acquisitions

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GCA Advises Hg on the Sale of Eucon to VHV Group

GCA is pleased to announce we advised Hg, Europe’s leading software investor, on the sale of Eucon Group to VHV Group, a leading German insurance group.

Eucon provides best-in-class information and data-based systems for efficient product management in the automotive aftermarket. Customers include car manufacturers and suppliers as well as a variety of workshop chains. For insurers, Eucon digitalizes claims management and is one of the sector leaders for digital platform solutions for data and document processing. In addition, Eucon offers digital solutions for the real estate industry for efficient and transparent invoice management.

Sven Krüger, CEO of the Eucon Group, said: “Together with Hg, we have written a great success story over the last five years. We have been successfully cooperating with the VHV Group for some time now and therefore could not have hoped for a better new investor. By providing platform solutions, we help our customers tap the digital potential of their industry and ensure sustainable access to the key technologies they require. With VHV as a robust, powerful and innovative partner, we can achieve this goal even more effectively and ensure that this open platform strategy is available to our customers for the long term.”

Benedikt Joeris, Director at Hg, said: “It has been a real privilege to work with Sven, the founders and entire team at Eucon. Today we part ways after five very productive years of working together. Eucon’s business sits at the intersection of two growth drivers in which Hg has built substantial experience: the value of big data in the automotive sector and the increasing digitalization of the insurance and real estate industry – and together we have built a great business in these areas. We are delighted that the team will be able to continue this journey with VHV, a true leader in insurance across Germany. We’re also pleased to see the strength of our networks and our track record continue to drive value in small and medium enterprises across Germany.”

The terms of the transaction were not disclosed.

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