Willis Group Holdings acquires a majority of the shares in Max Matthiessen and becomes new principal owner of the company.
After the acquisition, Max Matthiessen goes from being a Swedish company with 23 offices and 400 employees to being part of a global network of 400 offices and 18 000 employees.
– Willis will become a perfect new majority owner, Christoffer Folkebo CEO of Max Matthiessen comments. Our customers will now get access to a broader product portfolio, which is positive. Willis will also contribute with important experience and knowledge from a global network.
Altor Fund III bought Max Matthiessen in 2009. Willis will after the deal hold 75 % of the shares while employees, still control the remaining 25 %. Under the terms of the agreement, Willis will invest 1 357 MSEK for 75 % of the shares in Max Matthiessen.
– It has been a privilege working with Max Matthiessen. The company now enters a new phase where they will strengthen their competitiveness further by becoming a part of a leading international actor, Claes Ekström partner at Altor Equity Partners and Chairman of the Board of Max Matthiessen, agrees.
– Altor acquired the company while the financial crisis was at its worst. Ever since then the company has become much stronger in all aspects and they have made an amazing journey, Claes Ekström continues.
The merger is subject to customary regulatory requirements and approvals.
For more information, contact:
Christoffer Folkebo, CEO Max Matthiessen: tel. +468 613 02 00
Tor Krusell, Head of Communications Altor Equity Partners: tel. +4670 543 8747
Paul Platt, Communications Director Willis: tel. +44 7951 355 322
About Max Matthiessen
Max Matthiessen was founded in 1889 and is a leading financial advisor. Our advisor, administrators and specialists have experience helping employers and individuals with procurement, analysis, packaging, advisory and administration of the best saving- and insurance solutions on the market. Max Matthiessen have over 400 employees in 23 offices all over Sweden. In 2013 the gross turnover exceeded 1 000 million SEK. You are welcome to find out more about us at www.maxm.se.
Altor Equity Partners act as investment advisor to the Altor funds. Since inception, the Altor funds have invested in close to 40 companies with a committed capital of EUR 3 800 million. The investments have been made in Nordic mid-cap companies with focus on value creation through growth initiatives and operational improvements. Among the investments are Lindorff, Helly Hansen, Apotek Hjärtat, Carnegie, Papyrus, Dustin, Max Matthiessen, and CTEK. For more information, please visit altor.com.