Oppenhoff advised on add-on unitranche facility for MRH Trowe

Oppenhoff advised the industrial insurance broker MRH Trowe on an upsizing of the existing unitranche financing to provide funding for the group’s next step of its growth story. The debt financing is structured as a delayed draw term loan and is provided by a consortium of debt funds arranged by Golub Capital and existing lenders Macquarie Capital Private Credit and Bain Capital Credit.

MRH Trowe is a portfolio company of TA Associates (TA) and AnaCap and one of the largest P&C commercial insurance brokers in Germany. In addition to MRH Trowe Insurance Brokers GmbH, several specialised service providers for various segments operate under the umbrella of Mesterheide Rockel Hirz Trowe AG Holding. MRH Trowe offers comprehensive expertise in practically all lines of insurance for industrial and commercial clients, institutions and upscale private clients. The owner-managed group pursues a consistent growth strategy with a holistic advisory service, specialised teams and a high degree of digitalisation at the interfaces between clients, brokers and insurers. Around 1,100 employees manage a premium volume of more than 650 million Euros.

Golub Capital is a market-leading direct lender and experienced credit asset manager specializing in delivering financing solutions to companies backed by private equity sponsors. Golub Capital’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions up to $700 million and arranges syndicated credit facilities up to $2 billion.

TA is a leading global private equity firm focused on growing profitable businesses. Since 1968, TA has invested in more than 560 companies across five target industries: technology, healthcare, financial services, consumer products and business services. Leveraging its extensive industry knowledge and strategic resources, TA works with management teams around the world to help high-quality companies create lasting value. The company has raised 48.6 billion US-Dollars of capital to date and has more than 150 investment professionals in offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.

AnaCap is a leading specialist investor in European financial, technology and related corporate services, supporting both founders and entrepreneurial management teams. The focus is on ac-quisitions, management buy-ins or buy-outs of companies that require capital, know-how and experience to implement organic and inorganic strategies. Since 2005, the company has raised 3 billion euros in gross capital and completed 80 investments in 16 European countries. AnaCap institutionalises companies and regularly executes sophisticated growth strategies such as buy-and-build programmes that leverage a deep understanding of the sector.

An Oppenhoff team comprising partners Dr Markus Rasner (Corporate) and Dr Wolfgang Kotzur (Finance), junior partner Moritz Schmitz and associate Jennifer Zimmermann (both Corporate) provided comprehensive advice to MRH Trowe in collaboration with the London office of Proskauer.

Oppenhoff already advised MRH Trowe on its first international third party debt financing and a further debt financing round with existing lenders Macquarie Capital Private Credit and Bain Capital Credit. Oppenhoff continuously advises the group on transactions, most recently on the minority investment by private equity investor TA Associates and the bolt-on acquisition of Lurse AG.

Oppenhoff’s finance team regularly advises borrowers and sponsors on equity and bond issues, debt financing, derivatives and other structured products, e.g. the world’s largest cable manufacturer Prysmian S.p.A. on its new revolving credit facility and a sustainability-linked loan as well as AustriaEnergy Group on the creation and placement of a Green Bond.

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