Portfolio news Ascentiel Groupe

Grupo Concentra is Ascentiel's largest acquisition to date and its third transaction in the Iberian Peninsula.

The combined business in Spain and Portugal will generate revenue of approximately €62 million and employ close to 370 people. On a global scale, the group will exceed €150 million in revenue in 2026.

Grupo Concentra's management committee remains in place, ensuring continuity of leadership and of the business project.

The acquisition is intended to accelerate Concentra’s growth in Spain and Portugal. It also represents a major milestone in Ascentiel’s strategy to expand across Iberia and build a leading European insurance brokerage platform covering a wide range of specialty insurance segments. Concentra will continue to lead the consolidation of the Spanish and Portuguese brokerage markets, with Ascentiel’s support for further acquisitions.

Grupo Concentra would like to express its sincere thanks to BlackFin for its support, trust and close collaboration over the past four years. During this period, the company strengthened its foundations, more than doubled in size and established itself as a leading consolidator in the Iberian insurance brokerage market.

Javier López-Linares, founder of Grupo Concentra, will continue to serve as Executive Chairman. Carlos Gómez Pascual will continue to lead the group as Managing Director. Concentra will continue to operate under its existing brands and structure, with no change for its clients, brokers, employees or insurance partners.

Julien Ben Lahcen, Chief Executive Officer, Ascentiel Groupe:  “Concentra is already one of the most successful consolidators in the Iberian market. Our role is to accelerate what Javier, Carlos, Emilio, Inês and their team have built, not to change it. Concentra becomes our M&A consolidation platform for Spain and Portugal. I am also delighted at the prospect of combining the expertise and operating assets of Ascentiel International, Ascentiel’s existing successful subsidiary in Spain and Portugal, and Concentra – which complement each other perfectly – in order to drive forward the development of our joint business activities. After Eurodommages in France last year, this is the second step in building a genuine European brokerage group in specialty risks.” 

Javier López-Linares, founder and Executive Chairman, Grupo Concentra: “When I founded Concentra in 1997, my ambition was to build a people-centred, entrepreneurial and independent insurance brokerage platform in Iberia — one built on genuine care for our clients, our brokers and our teams, and on constant product innovation to serve them better. Almost thirty years on, that spirit remains at the heart of everything we do. I chose to join forces with Ascentiel because they share this same growth-driven culture and the same buy-and-build ambition, and because together we can go further, faster. I am proud to keep building Concentra as a reinvesting shareholder in this new chapter and I am so thankful with all the team that has been committed with me since the beginning.”

Carlos Gómez Pascual, Managing Director, Grupo Concentra: “With Ascentiel by our side, we intend to keep strengthening every pillar of Concentra: our digital channel, our regional presence across Spain and Portugal, our offering for both business and retail clients, and our wholesale brokerage activity. Our clients, brokers and insurance partners will continue to be served by the same teams they know today, now backed by even greater resources to grow and to keep consolidating the market.”

Damien Lestang, Partner, BlackFin Capital Partners: “It has been a privilege to support Javier López-Linares and his team since 2022 in the emergence of Grupo Concentra as a key player in the Iberian insurance brokerage market. Since founding the company in 1997, Javier has built a truly entrepreneurial and agile business, led by an outstanding team, and delivered a powerful buy-and-build strategy combining strong organic growth with a dozen fully integrated acquisitions over the past four years. We are delighted by the prospect of Concentra joining forces with Ascentiel, a group that shares the same values and same ambition.”

Concentra: A Cornerstone of Ascentiel’s Iberian Expansion

Founded in 1997, Grupo Concentra is an insurance and reinsurance brokerage group employing more than 330 professionals across Spain, Portugal, the United Kingdom and Mexico. The group brings together several brands operating across three core business lines: retail, MGA/wholesale and extended warranty.

Concentra is Ascentiel’s largest acquisition to date and its second transformational transaction since Cobepa and Amundi PEF invested in the group in December 2024, following Eurodommages in France in 2025. It is also Ascentiel’s third acquisition in Iberia, after Ascentiel International (formerly NIBW, a Madrid-based specialist in short-term motor insurance) in September 2024 and PMQ, a long-established broker in central and northern Spain, in July 2026.

In Spain and Portugal, following the combination with Ascentiel’s existing Spanish operations, Ascentiel will generate approximately €62 million in revenue and employ around 370 people.

Together, Ascentiel and Concentra will form a group generating revenues north of €150 million in 2026, with an established presence across three European markets.

About Ascentiel Groupe

Ascentiel Groupe is a fully digital insurance platform specialising in the distribution, underwriting and administration of personal and professional P&C insurance lines, and the market leader in France in specialty and substandard motor risk. For over 30 years, insurers and reinsurers including AXA, Allianz, Generali and SCOR have entrusted Ascentiel with extensive delegated underwriting and administration mandates. The group operates two business units, B2C (specialty motor, home and pet) and B2B (fleet, inherent defects insurance and professional indemnity), and employs 255 people in Rueil-Malmaison, Bordeaux, Aix-en-Provence, Madrid, Soria and Lisbon, supported by a further 240 insurance professionals at its business process outsourcing partner in Morocco. Ascentiel is led by Julien Ben Lahcen and has been majority-owned by Cobepa since December 2024.

About Amundi PEF

Amundi Real Assets & Alternatives brings together a complete range of capabilities in real estate, private debt, private equity, infrastructure, multi-management and alternatives. Drawing on decades of experience in private markets, Amundi facilitates access to real assets for institutional and retail investors through innovative investment solutions. With €68 billion in assets under management, Amundi Real Assets & Alternatives relies on around 330 professionals based in our main investment hubs in Paris, London, Milan, Luxembourg, Barcelona, Madrid, Zurich and Dublin.

About BlackFin

Founded in 2009, BlackFin Capital Partners is the leading independent private equity firm focusing on Financial Services and FinTech in Europe. Led by its 13 partners, the firm spans across Europe with offices in Paris, Brussels, Amsterdam, Frankfurt, London and Luxembourg and a team of 60 investment professionals. Next to Concentra, BlackFin has been very active in Iberia backing companies such as BDEO (Insurtech), SPB (affinity insurance brokerage) or CED (insurance claim management).

BlackFin Capital Partners, backed by institutional investors from Europe, North America and Asia, has raised an aggregate of €4 billion in commitments and deploys capital from its complementary financial services mid-market buyout and early-stage venture funds.

For further information, please visit https://www.blackfin.com/