Genstar Capital reinvests in AMBA

Following its initial 2016 acquisition of AMBA, Genstar injects new equity capital from its ninth fund to further membership growth of their partner associations and pursue additional acquisitions.

Genstar Capital has reinvested out of its most recent fund in Association Member Benefits Advisors. The firm is investing in partnership with the management team of the affinity-based membership and marketing insurance agency. Genstar first backed the Austin-based business in 2016.

PRESS RELEASE

SAN FRANCISCO, August 2, 2021 – Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, today announced that it has reinvested out of its most recent fund in Association Member Benefits Advisors (AMBA), a national affinity-based membership and marketing insurance agency, in partnership with AMBA’s management team. Under Genstar’s ownership AMBA has transformed into an essential partner to its association clients, offering membership development, marketing services, website and database management and IT services, among other benefits, drastically increasing the value proposition to the association.    

AMBA distributes insurance and other supplementary products primarily through a proprietary network of retired teacher, educator, and state employee associations across 40+ states. AMBA is proud of the incredible partnerships and support provided for these associations. Working alongside Genstar, AMBA has helped their partner associations thrive and gain relevancy in the industry by adding valued benefits, increasing membership and retaining members.   

AMBA partners with some of the highest rated carriers in the insurance industry to create an attractive portfolio of products. Working closely with their carriers, AMBA strives to provide access and peace of mind for their customers in the event of a claim. AMBA customers have access to top-of-the-line products and services including long-term care, short-term care, cancer, heart, stroke, emergency medical transportation, dental, vision, Medicare, annuities and life insurance.  

Genstar originally acquired AMBA in 2016 and has since then worked diligently with the management team to grow the business organically through product and distribution investments. AMBA has grown into a much larger organization with an incredible employee group and network of benefit specialists focused on serving associations and their members. The investment of new equity capital from Genstar’s ninth fund will enable AMBA to further support the membership growth of their partner associations and pursue additional acquisitions that help the company expand into new geographies, broaden product offerings and enhance carrier relationships.  

Ryan Clark, President and Managing Director at Genstar Capital, said, “AMBA is the only established player in the retired teacher and public employee association market, and is well positioned to participate in the broader senior market.  The company has performed extremely well since our acquisition in 2016, including the recent global pandemic. We are enthusiastic about the untapped opportunities to achieve continued organic growth and to expand the business dramatically via targeted acquisitions.  We are excited to continue our partnership with Steve Cardinal and his senior management team to capture AMBA’s full potential.” 

Steve Cardinal, CEO of AMBA, said, “Together with Genstar we have built AMBA into a provider of high-quality benefits and outstanding services to our association clients, insurance carriers, and exclusive agents. We have scaled the business organically and completed five strategic acquisitions that position us as a key partner with associations and their members. The growth prospects for AMBA are bright, both within our existing core markets and by developing new association relationships, as well as capitalizing on sizeable adjacent markets and product lines, including Medicare and annuity products. I thank our incredible employees and network of benefit specialists that are focused on serving our associations and their members. We look forward to working together to build our business in all 50 states.” 

AMBA is headquartered in Austin, TX.  For more information, visit www.amba.info 

About Genstar 

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries.