Wide Group completes first bolt-on acquisition of Milan-based broker Mida Srl
Pollen Street today announces that Wide Group has completed its first acquisition following Pollen Street's investment
Pollen Street today announces that Wide Group has completed its first acquisition following Pollen Street's investment, acquiring Mida Srl (“Mida”). Mida is a Milan-based commercial broker with capabilities across corporate, public administration, high-net-worth and SME insurance, focussing on clients in the Milan / Lombardy region. The business was founded in 1996 by current management, who will remain in the business post completion.
Wide Group is the leading technology-led commercial broking consolidator in Italy, and the acquisition of Mida will expand both the group’s scale and capability in the Milan market. Wide has a strong M&A pipeline of potential targets to build on the momentum of this acquisition, driven by a highly fragmented insurance broking market in Italy, with significant potential for synergistic consolidation.
Matteo Barbini, Co-founder and Managing Partner of Wide Group, commented:
“We are extremely proud of being able to share the experience and excellence of a broker with over fifty years of history, initially led by Michele and now managed by Davide Arculeo and Stefano Agnesi, known for its extraordinary expertise in the Corporate field.“
Ian Gascoigne, Partner at Pollen Street Capital, added:
“We are pleased to welcome Mida to the Wide family. Davide and Stefano have built a great commercial broker, complementing Wide’s offering and strategy. We are thrilled to see Wide’s fast start, closing this deal just two months after closing the Pollen Street investment.”