Milan and Luxembourg, 19th December 2023. Firstance and Gatsby & White announce the signing of a binding agreement providing for the acquisition by Firstance of 100% of the outstanding shares of Gatsby & White S.A. and Gatsby & White Agency S.A. (together, “Gatsby & White”). As part of the transaction, the selling shareholders and key managers of Gatsby & White will re-invest a significant portion of their proceeds in Firstance, ensuring continuity for clients and partners and confirming their full commitment to the combined entity.

With this transaction, Firstance and Gatsby & White become the undisputed Pan-European leader in private insurance intermediation, with:

  • over 33 billion Euro in combined traded assets;
  • licensed presence in Italy, Luxembourg, Belgium, Liechtenstein, Monaco and Spain;
  • a growing team of skilled and experienced workforce of over 80 people;
  • state-of-the-art proprietary technology platform enabling automation and digitalization of clients’ and business partners’ journeys.

Massimiliano Merlo, Founder & CEO of Firstance, commented: “I am particularly pleased and proud to announce the combination of Firstance and Gatsby & White, creating the European leader in the private insurance intermediation market. We have known and respected Gatsby & White for years and are excited to join forces to better serve our clients and partners throughout Europe.

This transaction represents a key milestone in our international expansion plan: together with Gatsby & White, we aim at becoming the go-to platform for our clients and partners, leveraging on a superior know-how, the shared best practices in both groups, real presence in each of the major European wealth hubs and leveraging market-leading tech capabilities across our group.”

This new combination represents the perfect next step for the development of Europe’s first truly multi-jurisdictional wealth insurance intermediary” added Pieter Coopmans, CEO of Gatsby & White. “The transaction is an important milestone for our clients, partners and staff.

The complimentary expertise, market coverage and business models, provide a powerful foundation to serve our clients and partners, at close proximity, with the best solutions available. By leveraging the state-of-the-art technology platform and financial strength of Firstance, we will be able to accelerate our growth strategy while enhancing the service to our clients.

Juan Lozano, Benno Vegers and Serge Krancenblum, Founding Partners of Gatsby & White, commented: “We are thrilled about the next chapter in the entrepreneurial journey that we started over 10 years ago. This transaction is more than a strategic move, it marks the establishment of a unique international intermediation platform based on technology and capillar knowledge of the different markets. Our synergies rely on our complementary strengths but also in our shared values of trust and mutual respect. We are convinced that this alignment in values will be crucial to a smooth integration process by fostering a cohesive corporate culture.

The transaction is subject to regulatory approvals and other customary conditions.
Firstance was assisted by Chiomenti and Arendt & Medernach for corporate legal aspects, by Latham & Watkins as financing legal advisor and by Deloitte for financial, tax and legal due diligence.
Gatsby & White was assisted by PwC Luxembourg for strategic M&A advice and by Vertumnus for legal advice

About Firstance

Firstance S.r.l. (“Firstance”) is a leading technology platform focused on the distribution of private insurance solutions for the European wealth management market. With over 27 billion Euro in traded assets, Firstance has in place distribution agreements with more than 60 among the leading private banking divisions, wealth management firms and family offices, providing access to a proprietary open architecture technology platform covering a wide range of private insurance solutions from more than 25 Italian and European insurance companies.

About Gatsby & White

Gatsby & White is an independent, privately-owned insurance intermediation platform holding a leading position in the cross-border (U)HNWI wealth solutions market Europe-wide with direct presence in Luxembourg, Belgium, Liechtenstein, Monaco and Spain.