Olympus Partners, the Connecticut private equity firm, sold its T&H Group Inc. to Alliant Insurance Services. Specifics on the transaction were not publicized. Since developing the company via 2006 deals to buy Thesco Benefits and Tanenbaum-Harber Inc., Olympus has built the asset out with the acquisition of additional insurance businesses. Olympus’ Paul Rubin, Evan Eason and Val Matena worked on the transaction and Piper Jaffray advised the seller.
STAMFORD, Conn., Jan. 2, 2011 /PRNewswire/ — Olympus Partners is pleased to announce that it has sold T&H Group, Inc. to Alliant Insurance Services, Inc. T&H Group, Inc., headquartered in New York, NY, is a leading insurance broker with specialties in surety, construction-related insurance and employee benefits.
Olympus has owned T&H Group since April 2006 when it acquired Tanenbaum-Harber, Inc. and Thesco Benefits, LLC. T&H Group later acquired RFF & Associates and Construction Insurance Brokers.
Rob Morris of Olympus Partners commented, “This investment represents an excellent result for Olympus. The T&H management team successfully acquired and consolidated the operations of two specialty insurance brokers and added-on several smaller books of business.”
Founded in 1988, Olympus Partners is a Stamford, Conn.-based private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including healthcare services, financial services, consumer products and business services.
Olympus manages in excess of $3 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
The Olympus team included Paul Rubin, Evan Eason and Val Matena.
Piper Jaffray & Co. advised T&H Group and Olympus on the transaction.