Author: Bethan Jenkins

Acquisition will support the Group’s next phase of Pan-European growth

Milan, January 21 2026 – TowerBrook, Columna Capital and Giovanni Campus, Entrepreneur and Executive Chairman, announce the establishment of a new partnership to support the continued development of MSA Mizar (the “Group” or the “Company”), a tech-enabled, end-to-end insurance claims management services provider headquartered in Milan, Italy, with operations across Spain, France, Belgium and Switzerland.

TowerBrook will join the shareholding structure as the majority owner, operating alongside existing investors Columna Capital and Giovanni Campus, who will reinvest and retain a significant minority interest. The management team will continue to be led by Group CEO Antonio Marchitelli, with Giovanni Campus continuing in his role as Executive Chairman, ensuring full entrepreneurial and operational continuity.

Founded in 1979, MSA Mizar is a fast-growing insurance claims management and third-party claims administration platform, specialising in high-frequency motor and property claims and delivering high-quality, end-to-end services through its proprietary technology platform. Since 2022, the Group has been backed by Columna Capital to accelerate growth, combining strong organic expansion with an active buy-and-build strategy. During this period, MSA Mizar has completed ten strategic acquisitions, expanded its offering into adjacent claims segments, entered new European geographies and continued to invest significantly in technology and operational capabilities. Today, the Group operates in six European countries, manages over 850,000 claims annually and employs approximately 850 people.

The transaction, which is subject to customary regulatory approvals, marks a significant new phase in the Group’s development. The new partnership aims to bring together complementary expertise and resources, allowing MSA Mizar to further strengthen its technology and AI-based capabilities, pursue selective M&A opportunities and continue scaling its service offerings.

The Group will benefit from TowerBrook’s deep expertise in insurance and technology-enabled business services, as well as its significant capital and strategic capabilities to support international expansion and continued consolidation in the sector. This transaction follows on TowerBrook’s long-held thematic pursuit of creating a pan-European insurance claims management leader, capitalising on the sector’s technological innovation and deployment of AI in insurance claims, secular tailwinds and significant opportunities for M&A. Columna Capital remains closely involved as a long-term partner, continuing to support management alongside TowerBrook.

Antonio Marchitelli, CEO of MSA Mizar, commented: “The partnership with TowerBrook allows the Group to build on the development path started with Columna Capital, which has supported MSA Mizar in achieving double digit year-on-year growth and will continue to contribute shaping our future. At the same time, this transaction will give us access to a significant pool of resources and expertise, leveraging the multidisciplinary background of TowerBrook’s investment team. The new shareholding structure reflects the strategic continuity of our industrial project, based on innovation, execution capabilities and international ambition.”

Nikolay Skibnevsky of TowerBrook commented: “We are excited to be partnering with the exceptional team led by Giovanni Campus and Antonio Marchitelli to support MSA Mizar on its next stage of growth. MSA Mizar’s client focus, quality of technological assets, track record of innovation, as well as strong organic growth, profitability and proven M&A capabilities position the Company well to become the insurance claims technology leader in Europe.“

Paolo De Bona of TowerBrook added: “MSA Mizar is our first investment headquartered in Italy, which marks an important milestone in our expanding European footprint, reflecting the momentum we’ve built since opening our Milan office last year.“

Andrea Frecchiami, Partner at Columna Capital, commented: “We are proud to have supported MSA Mizar’s growth from a leading Italian provider of insurance claims management to a top pan-European industry player. Since our initial investment nearly four years ago, MSA Mizar has completed transformative platform acquisitions, entered the Swiss and Belgian markets, significantly expanded operations in Spain and France and recorded a revenue increase of more than 4x, a testament to the success of our buy-and-build strategy.“

Gemma Zaino, Managing Director at Columna Capital, added: “We are confident that TowerBrook is the best partner for the next step in our long-term partnership with MSA Mizar and its team. We look forward to continuing to be a part of this Group’s exciting story.”

Giovanni Campus, Executive Chairman of MSA Mizar, commented: “Together with TowerBrook and Columna, I am confident that the Group’s growth journey will be even stronger. I have been deeply impressed by the expertise, commitment, and networking capabilities of their teams, and I therefore look forward to continuing to contribute in my role as Executive Chairman.“

MSA Mizar and Columna Capital were advised by Mediobanca as financial advisor, LMS as legal advisor, PwC as financial and technology, NCTM as tax and Oliver Wyman as commercial due diligence advisors. TowerBrook was advised by Lazard and Macquarie Capital as financial advisors, Chiomenti and Fried Frank as legal advisors, and Alvarez & Marsal, PwC and Capstone as commercial, financial, operational, technology, legal, tax and regulatory due diligence advisors.

Financial terms of the transaction were not disclosed.

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MSA Mizar

MSA Mizar is the holding company of a European claims management group, originally founded by Salvatore Campus with the creation of MSA-Multi Serass. The Group has since expanded to operate across Europe, with reported revenues of €135 million as at December 31st, 2024.
In Italy, MSA Mizar is the only provider able to deliver outsourced services across the full claims management value chain. The Group encompasses nine highly integrated specialist companies, each focused on a distinct area of the process, spanning portfolio operations, claims handling, trustee and governing body services, recovery management, civil and criminal litigation, and hail damage claims, including MSA-Multi Serass, N4C, Legalade, RipArte, Acclàims and Dottor Hail.
The Group is also supported by Mizar Tech, a dedicated technology centre responsible for the development of proprietary IT solutions and digital platforms offered to corporate clients, including on a SaaS basis.
In 2024, MSA Mizar expanded into the Spanish Property & Casualty claims market through the acquisition of company Veta+, and further strengthened its presence in France with the acquisition of IMS. In 2025, the Group continued its expansion with the acquisitions of MedExpert and Dells Angels.

Columna Capital
Columna Capital is a London-based entrepreneurial lower mid-market private equity firm with an investment focus in Spain, France, Italy and Switzerland. Founded in 2009 and led by four partners, the Columna team consists of an engaged group of professionals that actively support dedicated management teams and entrepreneurs to drive organic growth and execute on strategic consolidation opportunities. Typically, Columna invests in companies with up to €100 million in revenue and significant growth potential and has a sector focus in (i) healthcare and well-being, (ii) animal health, (iii) financial and business services, as well as (iv) agri-food.
For more information, please visit: www.columnacapital.com

TowerBrook
TowerBrook is a modern value investor focused primarily on transforming services businesses across four sectors in Europe and North America: business services, consumer products and services, financial services and healthcare. It champions founders, entrepreneurs and management teams as they grow and transform their companies, helping them become long-lasting leaders in their industries. The firm is an experienced investor across the financial services, insurance, and tech-enabled services sectors, with investments such as The AA, Premium Credit, and others. It develops theses with intentionality and looks to build companies that deliver meaningful customer and shareholder value.
TowerBrook invests through private equity, structured opportunities, growth & impact, and strategic partnerships, offering flexibility across the capital structure, and has over $26 billion of assets under management.
It takes an entrepreneurial, multinational, single-team approach and has invested in more than 115 companies on both sides of the Atlantic since inception in 2000.
TowerBrook is the first mainstream private equity firm to be certified as a B Corporation, demonstrating leadership in commitment to responsible business practices.

Media contacts:

TowerBrook:
Prosek Partners
pro-towerbrook@prosek.com

Columna Capital:
Brackendale Consulting
Fabio Galloni-Roversi Monaco – fabio@brackendaleconsulting.com
+44 (0)7517 192047

MSA Mizar
Tommasina Cazzato: tommasina.cazzato@msamizar.com
LP Comunicazione
Lea Calvo Platero: lea.platero@lpcomunicazione.it – 335 7357146

London, September 15th 2025 — TowerBrook today announced an investment in GMC Group (“GMC” or the “Company”), one of Ireland’s leading civil and mechanical engineering firms. This investment comes at a time of significant growth and expansion for GMC, as the company continues to secure and deliver large-scale public and private sector infrastructure projects across Ireland.

Founded over four decades ago, GMC has built long-standing partnerships with semi-state bodies and public agencies, positioning itself as a trusted, mission-critical partner for essential national infrastructure. The company delivers full turnkey solutions across seven core sectors: water, gas, power, telecoms, transportation, public sector and renewables. The Company plans to leverage TowerBrook’s partnership to scale its organization, accelerate its growth ambitions, and continue delivering high quality, critical infrastructure works that communities can rely on.

TowerBrook has a strong track record in the infrastructure services sector, having identified it as a core area of focus and demonstrated its capabilities through prior investments such as JSM in the UK and Langan in the US. Over the past several years, the firm has built deep expertise in multi-utility service models and industrial services, supported by an extensive network of industry experts. This experience, together with TowerBrook’s history of backing management teams to scale and grow, positions it as a suitably qualified partner to support GMC in its next phase of growth.

Following the conclusion of the deal, the management team at GMC, led by CEO Shane McCloskey, will remain the majority shareholders in the business and will continue to lead the company.

“This investment by TowerBrook marks an exciting new chapter for GMC Group,” said Shane McCloskey. “It provides us with the resources and strategic support we need to ensure that we continue to deliver projects across Ireland with the same reliability and excellence our customers have come to expect. Importantly, it will help accelerate our growth ambitions and ensure we remain a trusted partner for the delivery of critical infrastructure developments and services into the future.”

“We are delighted to announce our investment in GMC Group,” said Joseph Knoll, Managing Director, and Sumit Dheir, Senior Principal, TowerBrook Capital Partners. “We consider that GMC’s technical excellence, operational reliability, and its deep-rooted relationships with Ireland’s key infrastructure stakeholders make it an ideal partner. We look forward to supporting the team as GMC continues to scale its operations and deliver mission-critical services that benefit communities across the country.”

The transaction is subject to approval by the Competition and Consumer Protection Commission (CCPC).

NEW YORK – September 9, 2025 – TowerBrook Capital Partners L.P. (“TowerBrook”), an international investment firm, is pleased to announce the appointment of Jack Azagury as a Senior Advisor. In this role, Mr. Azagury will advise TowerBrook’s portfolio companies in the Business Services sector and work closely with the sector investment team to identify and evaluate future opportunities. Mr. Azagury will also serve as the Chair of the Board for BRG, and as a Board Member at CBTS.

Mr. Azagury joins TowerBrook after a 29-year career at Accenture, where he most recently served as Group Chief Executive for Consulting, leading Accenture’s global consulting team, its 42 industries and enterprise functions, including Industry X, and serving on the company’s Executive and Global Management Committees. He brings extensive international experience from the UK, France, Japan, and the U.S., and has held senior roles including Market Unit Lead for the U.S. Northeast and Lead for North America Resources.

Mr. Azagury brings deep strategy, technology, and operational experience and is a recognized thought leader on digital and AI based transformation, operational improvement programs, and the energy industry. He is a frequent speaker and author on these topics.

Jonathan Bilzin, co-CEO and Managing Parter of TowerBrook Capital Partners said: “We are thrilled to welcome Jack to TowerBrook. His nearly three decades at Accenture and leadership at the highest levels of the firm reflect the depth of his experience in global professional services. Jack’s track record in driving large-scale transformation and technology-enabled change will make him an exceptional partner as we continue to grow and shape the future of our firm.”

Walter Weil, Managing Director and Business Services Sector Lead of TowerBrook Capital Partners, said: “Jack’s guidance will be invaluable as we continue to support our portfolio companies and innovate in the professional services sector. His outstanding leadership experience and deep knowledge will be invaluable as we continue to expand our portfolio and drive growth across these lines.”

“I’m excited to embark on my next chapter as a Senior Advisor at TowerBrook. The firm’s commitment to building enduring, resilient, and responsible businesses deeply aligns with my own values and experience in leading global teams and helping clients through their large-scale transformations,” said Jack Azagury, “I look forward to working with the TowerBrook team and with BRG and CBTS, to help these very talented teams achieve their full potential.”

NEW YORK – August 7, 2025 – TowerBrook Capital Partners L.P. (“TowerBrook”), together with Prelude Growth Partners, today announced an investment in Amylu Foods (“Amylu” or the “Company”), a manufacturer of all-natural, value-added protein products. The partnership positions the Company to continue building on its 100+ year history of delivering healthy and convenient specialty protein products to a growing base of retailers and consumers across the U.S.

Founded in 1924 and headquartered in Chicago, Illinois, Amylu is a high-growth manufacturer of value-added chicken products, including sausages, meatballs, and burgers, sold under the Amylu brand and private label. The Company’s broad portfolio of innovative and flavorful products is tailored to address consumer preferences for all-natural, high-protein options with verifiable heath attributes (e.g., organic, antibiotic-free, nitrate-free). Amylu’s products, produced in-house at the Company’s dedicated manufacturing facilities, allow consumers to prepare nutritious, high-quality meals quickly, combining premium ingredients with unmatched convenience. Amylu plans to leverage the TowerBrook partnership to scale operations, further expand across channels, and deliver high-quality products to a growing base of consumers nationwide.

Steven Zoll, Chief Executive Officer of Amylu, stated: “At Amylu, our success has always been built on delivering great-tasting, clean-ingredient products that our consumers genuinely love and trust. This partnership with TowerBrook is the natural next step for our growth strategy, and we’re confident they’re the right partner to help us expand our business across the nation given their strong track record of scaling food businesses, particularly in the protein space.”

“Amylu’s long-standing commitment to quality, innovation, and health-conscious convenience has earned it a strong reputation in the industry and outstanding commercial momentum,” said Michael Recht, Managing Director of TowerBrook. “We look forward to partnering with Steve and the Amylu team to continue to build upon the Company’s legacy of delivering unique products to its loyal consumers.”

Sidley Austin acted as legal counsel to TowerBrook. J.P. Morgan served as financial advisor and Winston & Strawn acted as legal counsel to Amylu. Funds managed by MidCap Financial and Benefit Street Partners acted as joint lead arrangers and bookrunners for the financial facilities together with funds affiliated with Eldridge, Sumitomo Mitsui Banking Corporation, Willow Tree Credit Partners, and Stifel.