GTCR has sold insurance broker AssuredPartners to Apax Partners. No financial terms were disclosed. BofA Merrill Lynch served as lead financial advisor to AssuredPartners and GTCR on the transaction with Barclays and Morgan Stanley & Co. also providing financial advice.
PRESS RELEASE
CHICAGO–(BUSINESS WIRE)–GTCR, a leading private equity firm, announced today that it has closed the previously announced sale of AssuredPartners (“Assured” or the “Company”) to Apax Partners.
Founded in 2011, AssuredPartners is the 6th largest independent P&C insurance brokerage in the nation with offices in over 30 states, the District of Columbia and London. Through Assured’s network of agencies, the Company provides property and casualty and employee benefits insurance brokerage services to commercial enterprises and individuals.
In executing the Leaders Strategy™, GTCR partnered with long-time insurance brokerage industry leaders Jim Henderson and Tom Riley to form AssuredPartners in 2011. Mssrs. Henderson and Riley had over 50-years of combined experience in the insurance brokerage industry, with specific experience in building a national broker through acquisitions and organic growth.
Since forming Assured in 2011, the Company completed 112 acquisitions becoming one of the leading middle market insurance brokers in the United States.
BofA Merrill Lynch served as lead financial advisor to Assured and GTCR with Barclays and Morgan Stanley & Co. LLC also serving as financial advisors. Kirkland & Ellis LLP provided legal counsel to Assured and GTCR.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information, please visit www.gtcr.com.
About AssuredPartners
Founded in 2011 and headquartered near Orlando, FL, AssuredPartners is the 6th largest independent P&C insurance brokerage in the nation with offices in over 30 states, the District of Columbia and London. Through Assured’s network of agencies, the Company provides property and casualty and employee benefits insurance brokerage services to commercial customers and individuals.
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