Miura Partners is undertaking a consolidation project in the insurance brokerage sector under Brokers Alliance brand, aiming to create the leading independent insurance broker in Spain for SMEs.
With the investment in Banasegur, the leading agricultural broker in Spain, Miura takes a first step towards the consolidation of a highly atomized sector. Banasegur management team will continue to run the company while current shareholders will reinvest a significant stake in the project.
Miura plans to tackle different inorganic growth opportunities by incorporating other synergistic brokers to the project to broaden the company’s current geographical presence and product portfolio, especially in the SME space. In addition, Miura will be focused on the implementation of organic strategic initiatives to enhance the group’s commercial activity and operations including strong efforts in digitalization processes.
Banasegur, the leading broker in the agricultural sector
Headquartered in Lerida (Spain), Banasegur led by Ramón Badía, is specialized in the agricultural insurance intermediation sector with a strong positioning in the SME space. The company has a solid geographical presence in Lerida, Tarragona, Zaragoza, Murcia and Seville (Northern and Southern Spain) and a wide insurance product offering to SMEs including credit & surety, multi-risk, health and life & pensions.
Throughout its 25-year history, Banasegur could maintain its dominant position in the agricultural segment thanks to a personalized and specialized advice together with an outstanding service in accident management. In 2020 Banasegur reached €13 million revenues and is expected to triple its top line results by 2025 after accomplishing the consolidation project.
Juan Leach, Founding Partner at Miura Partners, highlighted that “we have taken the first step to build a benchmark in the insurance intermediation sector in Spain thanks to the partnership with Banasegur’s current stakeholders. Our broad experience on consolidation projects in business services and agribusiness sectors, together with Banasegur’s expertise and knowledge on the insurance sector, places Brokers Alliance in an excellent position to continue strengthening the project.”
About Miura Partners
Miura Partners is a leading private equity firm in Spain specialized in investing in mid-size family-owned businesses, providing attractive growth and consolidation plans, and with a clear international spirit. Since 2008, Miura has invested in more than 40 companies, with transactions worth more than €1.5 billion.
Find more: www.miura.partners
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