Genworth Financial has agreed to sell Genworth Wealth Management to Aquiline Capital Partners and Genstar Capital for $412.5 million. The deal, which is expected to close in the second half, includes Genworth Financial Wealth Management and Altegris. Credit Suisse is providing debt financing. Aquiline and Genstar were advised by Deutsche Bank.
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Genstar Capital has promoted Eli P. Weiss to principal and David J. Golde to vice president. Genstar is a middle market private equity firm that focuses on investments in selected segments of the insurance and financial services, software, life sciences, healthcare, and industrial technology industries.
MW Industries has completed the acquisition of Lifeline Products, a precision manufacturer serving the medical market. MW Industries is a portfolio company of Genstar Capital.
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.
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.
ERT, a Philadelphia-based services company catering to biopharmaceutical sponsors and contract research organizations (CROs), has acquired Pittsburgh-based invivodata, a producer of of electronic Patient Reported Outcomes (ePRO) solutions. ERT was acquired last week by the San Francisco-based private equity firm Genstar Capital. PRESS RELEASE: ERT, a global technology-driven provider of health outcomes services to biopharmaceutical [...]
Genstar Capital has completed its acquisition of ERT in a take-private transaction valued at approximately $400 million. ERT is a global technology-driven provider of health outcomes services to biopharmaceutical sponsors and contract research organizations. PRESS RELEASE ERT, a global technology-driven provider of health outcomes services to biopharmaceutical sponsors and contract research organizations (CROs), announced today [...]
Confie Seguros, which is backed by Genstar Capital, has acquired three more insurance agencies. They include: Bradley Insurance of Las Vegas; A Auto Insurance World of West Palm Beach, Fla.; and, Ontario, Calif.-based Westside Auto. Confie said that it has appointed Chad Maxwell a SVP, mergers & acquisitions. Maxwell was previously a partner with Clear [...]
Genstar Capital is to acquire global provider of health outcomes research services eResearchTechnology for $8.00 per share in cash. Completion of the acquisition is subject to the satisfaction of closing conditions. PRESS RELEASE eResearchTechnology Inc. (ERT) said Friday its stockholders approved the proposal to adopt the Agreement and Plan of Merger, pursuant to which the [...]
Middle market private equity firm CIVC Partners has sold Innovative Aftermarket Systems to Genstar Capital. IAS, based in Austin, TX, is a provider of ancillary vehicle protection products, services, and software solutions sold primarily through franchised automobile dealerships in the US. PRESS RELEASE CIVC Partners, L.P., a middle market private equity firm focused on investments [...]