Milbank LLP advised the shareholders of ControlExpert, including the majority shareholder General Atlantic, on the sale of a majority stake to Allianz X. ControlExpert will maintain its business model and operational autonomy. Together with Allianz X, the company will focus on further enhancing digitalization and customer focus to achieve growth in Germany as well as in global markets. The transaction is subject to approval by the relevant competition authorities.
ControlExpert supports insurance companies, car dealers, car repair shops, leasing companies, and OEMs through portal solutions, KI-based services and technical expert services. The company has more than 800 employees across 17 locations and is active in Europe, Asia, and North and South America.
Allianz X is the digital investment vehicle of Allianz Group, a leading insurer in Germany with over 20 million customers. Partnerships and investments of Allianz X focus on pioneers in digitalization of the relevant ecosystems of the insurance sector. Allianz X operates as an interface between operational units and divisions of Allianz and the digital ecosystem in the wider context.
General Atlantic is a leading global investor providing capital and strategic support to companies with high growth potential. General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon and a deep understanding of growth drivers.
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