MSA Mizar expands with Veta+ insurance claims acquisition
MILAN, ITALY — MSA Mizar, a provider of outsourced insurance claims management, has acquired 100% of Veta+, Spain’s largest provider of outsourced property claims management services.
The deal, supported by Columna Capital, positions MSA Mizar for significant growth in Spain and beyond and marks its seventh acquisition since 2022.
Strategic growth and market position
MSA Mizar’s growth trajectory has seen the company expand from a €30 million (US$31.7 million) turnover in 2021 to an anticipated €130 million (US$137 million) by 2024. The acquisition of Veta+, which brings €35 million (US$37 million) in turnover and manages over 700,000 claims annually, significantly strengthens MSA Mizar’s position in the Iberian Peninsula.
Technological integration and service excellence
Both companies share a commitment to technological innovation, operating through proprietary platforms enhanced with AI capabilities. The combined workforce now includes nearly 400 employees, 120 claims specialists and 450 repair professionals from Veta+, bolstering the group’s service delivery capabilities.
“Veta+ Group shares a remarkably similar DNA with MSA Mizar Group,” commented Giovanni Campus, Group CEO of MSA Mizar.
“We hope to integrate the technology and know-how of Veta+ in the field of property claims into the wider commercial offer of our Group, with the aim of diversifying the business and transferring Veta+’s expertise to the other European markets in which we operate, including Italy.”
Future growth prospects
The merger presents significant cross-selling opportunities, particularly in the motor insurance sector where MSA already maintains a strong presence through multiple subsidiaries in Spain.
“MSA Mizar’s acquisition of Veta+ represents a huge step in advancing its strategic vision to expand into new markets and achieve significant, sustainable year-on-year growth,” said Andrea Frecchiami, Partner at Columna Capital.
“With this acquisition, they will have more than quadrupled in size within just three years, demonstrating further validation of MSA’s pan-European appeal. As partners, we are proud to have supported MSA throughout their expansion into the Home Insurance space and congratulate the team on their vision and execution in bringing this deal to fruition.”
The deal, supported by Tikehau Capital through direct lending financing, represents a strategic step in MSA Mizar’s pan-European expansion plans. With this acquisition, MSA Mizar solidifies its position as a leading provider of comprehensive insurance claims management services, offering solutions ranging from claim initiation to final settlement across multiple European territories.
