Schomacker Joins HBC Group, Enhancing Yacht Insurance Expertise
Deal News | Dec 19, 2024 | Preservation Capital Partners
HBC Group has strengthened its portfolio by acquiring Schomacker, a leading yacht insurance specialist based in Hamburg. Schomacker, renowned for its extensive expertise and a robust network in the water sports coverage sector, boasts over 50 years in the industry and ranks among the top three providers in Europe. This acquisition aims to bolster HBC Group's position in the private customer market, particularly in yacht insurance, by leveraging Schomacker's deep market knowledge across Europe. Preservation Capital Partners, the private equity firm backing this move, continues to support HBC Group's strategic growth efforts in the insurance sector.
Sectors
- Insurance
- Private Equity
- Maritime
Geography
- Germany – Schomacker, the target company, is based in Hamburg, Germany.
- Europe – The article mentions the expansion and market expertise across Europe.
Industry
- Insurance – The industry involved as the article discusses the acquisition of a yacht insurance specialist.
- Private Equity – Preservation Capital Partners, a private equity firm, is supporting the expansion efforts of HBC Group.
- Maritime – Relevant due to the focus on yacht insurance and water sports coverage.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Schomacker | Target Company | Company | A Hamburg-based yacht insurance specialist with over 50 years of experience. |
| HBC Group | Acquiring Company | Company | A company expanding its portfolio in the insurance market. |
| Preservation Capital Partners | Private Equity Firm | Company | The PE firm backing HBC Group's strategic expansion. |