Amynta Group, a portfolio company of Madison Dearborn Partners, said Jan. 7 that it acquired ClearView Risk Holdings LLC. Financial terms weren’t announced. ClearView, of Dallas, is a managing general agent and wholesale brokerage that controls more than $200 million of premium.
The Amynta Group Announces Acquisition of ClearView Risk Holdings
Expands and Diversifies Amynta’s Portfolio With Addition of Leading Habitational Property Program and Wholesale Transactional Brokerage
NEW YORK, January 7, 2019 – The Amynta Group (“Amynta” or “the Company”), an industry leading group of warranty, managing general agent and specialty risk companies, today announced that it has acquired ClearView Risk Holdings, LLC (“ClearView”), a differentiated habitational Managing General Agent (“MGA”) and leading specialized transactional Wholesale Brokerage, that controls over $200 million of premium. Terms of the transaction were not disclosed.
Amynta CEO Stuart Hollander commented, “We are excited to welcome the industry-leading ClearView team to our Amynta family as we work together to leverage their specialty platform for combined accelerated growth. This acquisition is a major step forward in our strategy to expand Amynta’s MGA segment, enter the habitational risk and property underwriting space as well as to diversify our services from premier carriers. With its sophisticated technology and range of relevant products and industries including habitational, construction, energy, manufacturing, property and casualty, ClearView is well-positioned in the market and perfectly aligned with our growth strategy as we seek to scale our platform and deliver additional market leading products and services to our clients and customers.”
ClearView is the parent holding company for Strata Underwriting Managers (“Strata”), a nationally recognized habitational program designed exclusively for the underwriting and management of multi-dwelling properties, and Southwest Risk, LP (“Southwest Risk” or “SWR”), a full-service specialty transactional wholesale brokerage platform with expertise in difficult to place commercial coverage in both the excess & surplus and specialty admitted marketplace. Headquartered in Dallas, Texas with offices in Houston, Fort Worth and Tallahassee, Florida, ClearView writes business in 37 states across the U.S. ClearView’s team, led by CEO Parker Rush, will continue driving expansion of the business as part of Amynta.
Hollander continued, “I look forward to working closely with Parker and the proven, highly capable ClearView leadership team who are experts in their field and leaders in their territory. Together we will continue ClearView’s track record of organic growth and pursue opportunities that will further expand Amynta’s MGA segment and diversify our offerings.”
Parker Rush, CEO of ClearView, said, “This is an important milestone in ClearView’shistory and will help take our business to the next level as we compete in our current markets and strive to elevate our role as a leading national specialty platform. JoiningAmynta presents an opportunity to further differentiate ClearView, driven by the rapid geographic scalability of our Strata program and Southwest Risk’s ability to capitalize on the significant growth opportunities we see in a large and growing excess and surplus lines marketplace. I look forward to working with Stuart and the Amynta team to build on our collective momentum.”
ClearView was formed in December 2010 upon a majority investment in Southwest Risk by GCP Capital Partners, LLC. Amynta was created in 2018 out of Madison Dearborn Partners’ acquisition of a number of AmTrust Financial Services U.S. fee businesses.
Boris Gutin of GCP Capital Partners said, “As with all our investments, we focus on backing world-class management teams and superior business models. It has been our pleasure to partner with Parker Rush and his management team twice, first with Republic Insurance and now ClearView Risk. Under his leadership, Parker and his team have built an industry-leading habitational program with a culture focused on delivering superior underwriting results, across multiple insurance cycles, to a large and diverse group of carrier partners. During our investment, ClearView has grown its premium base substantially, more than doubled the number of markets, grown its earnings and created a recurring, predictable business model. We believe under Amynta’s ownership and support, ClearView can continue to organically grow its core business as well as expand into new programs and business lines.”
The transaction closed on January 4, 2019. Upon closing, ClearView became a subsidiary of Amynta.
Waller Helms acted as financial advisor to ClearView and GCP Capital Partners, with Lock Lorde serving as legal counsel. For Amynta, MHT Partners served as financial advisor and DLA Piper served as legal counsel.
About The Amynta Group
The Amynta Group is an industry leading group of warranty, managing general agent and specialty risk companies. This collection of professionals and firms provides warranty and services contracts for the automotive, consumer products and specialty equipment industries, among others, and administers niche workers’ compensation and contractor liability coverage in the United States on behalf of AmTrust and other carriers. The Amynta name is derived from antiquity and means “protector,” which underscores the company’s focus and commitment to bringing industry leading products and services to its wide range of clients and customers. Amynta plans to invest in growing and maintaining its market leading position with a focus on ensuring a high performing work culture, product innovation and market expansion. For more information, please visitwww.amyntagroup.com.
ClearView Risk Holdings, LLC provides complex excess and surplus lines insurance solutions to its large network of independent agents. ClearView Risk combines industry and technical expertise, superior service and a desire to become the comprehensive wholesale partner to its independent agents. The Company excels by combining wholesale transactional brokerage with program management and Managing General Agency capabilities. ClearView Risk is headquartered in Dallas, with additional offices in Houston and Fort Worth, and writes business in 37 states across the United States. For more information, please visit www.clearviewrisk.com
About GCP Capital Partners
GCP Capital Partners is a middle market private equity investment firm managing three active funds with $1.4 billion in committed capital. GCP has completed over 60 transactions since its inception in 2000. GCP has been an active investor in the software and technology industries, community banks and insurance. GCP’s managing directors have nearly 100 years of combined private equity experience and have substantial personal capital invested in the funds. GCP Capital Partners is the successor to Greenhill Capital Partners, the merchant banking business of Greenhill & Co., Inc. (NYSE: GHL) which the principals formed in 2000. For more information about GCP Capital Partners, please visit www.gcpcapital.com.
About Madison Dearborn Partners
Madison Dearborn Partners, LLC (MDP), based in Chicago, is a leading private equity investment firm in the United States. Since MDP’s formation in 1992, the firm has raised seven funds with aggregate capital of approximately $23 billion and has completed over 140 investments. MDP is currently investing out of its most recent fund, $4.4 billion MDCP Fund VII, in businesses across a broad spectrum of industries, including businesses and government software and services; financial and transaction services; basic industries; health care; and telecom, media and technology services. For more information, please visit mdcp.com.