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ABRY-backed Confie Seguros buys three insurance brokerages

Confie Seguros, a portfolio company of ABRY Partners, has acquired three insurance brokerage firms. They are Lockport, New York-based Bower Insurance, Round Rock, Texas-based Guess Insurance Services and Charleston, SC-based Alliance Insurance Agency. No financial terms were disclosed.

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Trending on peHUB this week: Glenn Beck fundraising for TheBlaze, Spectrum Equity raising another $1 billion fund, and VCs getting excited about real estate websites.

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This morning find out what public pension funds are planning for their private equity portfolios in the next year, what Internet and social media stocks to buy this year and fundraising news from Littlejohn and ABRY Partners.

Confie Seguros acquires two insurance brokerages

Confie Seguros, a provider of personal lines insurance, has acquired two additional insurance brokerages: DeFranco Insurance Agency of Niagara Falls, NY and Insurance Group of American d/b/a City Insurance of Palm Springs, FL. The addition of these two agencies is part of Confie’s continued strategy to build out its geographic footprint throughout New York State and Florida. Confie has completed 23 acquisitions in the last 12 months.

Florida Reaches Torrid $6 Billion Commitment Pace

The pace of new private equity and alternative investments at the Florida State Board of Administration is likely to reach about $6 billion in fiscal 2012-2013, as Florida’s primary $126 billion pension fund gradually ramps up its allocations to so-called strategic investments from zero to 11 percent of the portfolio…

ABRY Partners Acquires Basefarm

ABRY Partners has acquired Basefarm AS, a provider of managed hosting services with operations spanning Norway, Sweden and the Netherlands. International consulting firm BroadGroup conducted the commercial due diligence for ABRY Partners.

Confie Seguros Adds Four Insurance Brokers

Confie Seguros, which is backed by ABRY Partners, has acquired four regional insurance brokerages in Florida and Nevada. The buys include Maurisset Insurance, CNS Insurance Services, and Briar Bay Insurance, as well as Got Insurance of Las Vegas, N.V. Financial terms were not announced.

Nexstar Announces Pricing of Secondary Offering

Nexstar Broadcasting Group has announced the pricing of the previously announced sale by selling stockholders, funds affiliated with ABRY Partners of 8 million shares of the company’s Class A common stock at $9.25 per share. The offering consists entirely of secondary shares to be sold by the selling stockholders.

Nexstar Announces Secondary Offering of Common Stock

Nexstar Broadcasting Group selling stockholders, funds affiliated with ABRY Partners intend to offer for sale in an underwritten offering 8.0 million shares of Class A common stock of the company. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.2 million shares of Class A common stock on the same terms and conditions.

Claranet Acquires Star

Europe-based managed service provider Claranet has acquired Star, a UK provider of managed technology services. The deal is valued at 55 million pounds ($88 million). The Royal Bank of Scotland, Ares Capital Europe and a minority investment by Abry Partners financed the acquisition.

Genstar Sells Insurance Broker to ABRY Partners

As expected, ABRY Partners has acquired Confie Seguros. Boston-based ABRY Partners is buying the majority stake held by Genstar Capital. Financial terms of the transaction, which closed Nov. 9, weren’t announced. RBC Capital Markets and GE Capital provided debt financing.

Confie Seguros, Backed by Genstar, is Up for Sale: UPDATED

Genstar Capital has put Confie Seguros on the block, three sources say. New York.-based Confie Seguros–which means “trusted insurance advisor”– is an insurance broker that targets Hispanic consumers. Confie produces more than $50 million EBITDA and is seeking bids of 10x, one private equity exec says.

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