OMNICAP advises Hillewaere Group on the acquisition of DGM insurances
From February 2015, HILLEWAERE GROUP, formerly named Heeren & Hillewaere, has strengthened its insurance portfolio in the SME sector considerably with the acquisition of DGM Insurance. OMNICAP advised HILLEWAERE GROUP on this acquisition and the buy-and-build strategy in general.
HILLEWAERE GROUP (www.hillewaere.be), located in Oud-Turnhout, has today evolved from a classic real estate office to a diversified group with activities in real estate brokerage, insurance and financial services. Recently, there is a fourth activity of general banking activities with the opening of a BKCP office.
The Group currently has about 6 real estate agencies (in region Kempen and Antwerp) and three insurance offices, where about 45 employees are working.
HILLEWAERE and DGM Insurance, also located in Oud-Turnhout, have highly complementary activities and customers. With the team of DGM Insurance HILLEWAERE strengthened its expertise in the SME insurance.
Roel DRUYTS CEO of HILLEWAERE GROUP, on the transaction:
"In the insurance market the role of the agent has become too fragmented in my opinion. There are many insurance agents who are no longer able to provide the quality required by the customer due to the increased complexity. We want to capitalize on this in the following years. Therefore, I strongly believe in scale. Historically, we had a solid know-how in insuring private customers. In recent years we developed also a SME-focused insurance practice but with the acquisition of DGM we get at once a lot of experience in this area in house."
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