• Sun. Oct 24th, 2021

Assiteca acquires 100% insurance brokerage company Ing G. Bassi & C

Byeditorial

May 5, 2021

Assiteca, the largest Italian group in business risk management and insurance brokerage, listed on the AIM of the Italian Stock Exchange, today finalized the contract for the purchase of 100% of the shares of Ing. G. Bassi & CSpA Constituted. in Florence in 1992 on the initiative of the engineer Giulio Bassi, the company is recognized on the insurance brokerage market for the competence and quality of the services offered. At 31 December 2020, Ing. G. Bassi & CSpA (Igb) recorded revenues of 1.4 million euros and an Ebitda of 0.64 million euros. The price of the transaction, financed entirely by own means and subject to adjustment, is equal to approximately 5 million euros and will be paid for 4.4 million euros at the end of the shares, with an adjustment at 12 months. The operation gives life to a company in Tuscany with a turnover of approximately 6.5 million euros which immediately positions itself as the largest national insurance broker in the reference area. Assiteca has in fact been present in Florence since 2002 and it was subsequently strengthened through important acquisitions, first in Livorno in 2005 and then in Prato in 2009. Over the years, the offices have developed particular skills in the commercial credit branch, in health care and in the public administration, gaining the trust of important companies, associations and local authorities . The project envisages the subsequent merger of the company with the Florence office of Assiteca. “We are pleased to announce the acquisition of a brand with an important know-how in a strategic region for our Group and for the national economy. – declares Luciano Lucca, President of Assiteca – The skills of Igb, combined with our size and organizational capacity, will bring significant added value to client companies and to the whole territory “.