Permira to acquire GGW Group from Hg Capital.

Permira, a private equity firm, agreed to acquire GGW Group, an insurance brokerage firm, from Hg Capital, a private equity firm. Financial terms were not disclosed. "The backing from the Permira funds marks an important milestone and yet we are only at the very beginning of GGW's success story. We are looking forward to working with Permira and are excited about the future as we continue to grow in Germany and expand further across Europe. Thanks to my fantastic colleagues we have surpassed all of our expectations, and quickly become a leading commercial insurance distribution platform in Germany and other European countries. The partnership with Hg has been a core pillar for our success," Tobias Warweg, GGW Group CEO.