Due to this agreement, Confide starts a new shareholder stage in which Navaz will hold the majority of the shareholding.
Last week the process of purchase of CONFIDE concluded with an acquisition of 85% that has been led by its CEO and founder, Martín Navaz. Due to this agreement, Confide starts a new shareholder stage in which Navaz will hold the majority of the shareholding. The remaining 15% is in the hands of the Bertrán’s family, current partners of Navaz in the CONFIDE GROUP, the majority shareholder until the sale of the brokerage. The rest of the management team is formed by: Gabriel Cereto, Deputy Commercial Director; Rafael Manchón, Technical Director and Compliance Deputy Director; and Eva García, Administration and Finances Director.
The broker commits to maintain the company’s philosophy, which has characterized CONFIDE since its foundation in 1990. Its progress, as Martín Navaz has indicated, has always been related to “constant evolution, like our environment”.
Therefore, each and every person that form part of the team, in total 49, will continue working to advise their clients when it comes to “making the right decisions, in an environment as dynamic as it is today, where every day we find new and unknown situations that make it more necessary for our clients to assume their risks in a reasonable and informed manner, without endangering their social and personal assets, thereby guaranteeing their future”.
During the transaction, Ananda Advisors, Luis Badrinas (Community of Insurance) and José Herrera (HF Legal) have advised the buyers. On the other hand, the sellers have been advised by Oriol Huguet (Degroof Petercam).
The insurance and reinsurance brokerage is currently managing 58 million euros in premiums and has offices in Barcelona and Madrid.
