Scout Partners and KBW Capital Partners have invested in International Planning Group. Financial terms weren’t disclosed. Wellesley, Mass.-based International Planning is a life insurance sales, marketing, distribution and consulting company.
PRESS RELEASE
International Planning Group, Ltd, a global life
insurance sales, marketing, distribution and consulting company, announced today that
two investment groups, Scout Partners, LLC and KBW Capital Partners, have made an
investment in the company to fund the continuing expansion of IPG’s growing global
operations.
“We welcome these two sophisticated financial partners to help the strategic development
of our company and its rapidly growing business,” said Jon Baker Sr, founder and
majority shareholder of IPG. “We have great confidence that our well established global
brand will benefit greatly from the capital infusion and financial talents of our new
investment partners.”
With the funding, International Planning Group plans to increase penetration and
strengthen its significant market positions in Asia and Latin America while increasing its
presence in other parts of the world, including Eastern Europe, the Middle East and
Africa. The investment will also allow for expansion of the senior management team,
positioning the company to take full advantage of increasing business opportunities.
Scout Partners, LLC and KBW Capital Partners, both based in New York, will be
represented on the board of directors of the company. According to David Y. Howe,
chief executive officer of Scout Partners, LLC, “We are delighted to partner with Jon
Baker and his proven management team. We are looking forward to helping IPG, with
its innovative business model, grow substantially in the years ahead.”
“Investing in dominant niche companies,” added John T. Hompe, managing director of
KBW Capital Partners, “is a focus of our fund, and IPG is clearly an established leader in
its space. We look forward to assisting the company with its growth plans.”