[ad_1]
US-based personal fairness firm BharCap Companions, by means of its affiliate, has acquired insurance coverage providers holding firm Insurvia for an undisclosed quantity.
Gemspring Capital, together with the administration group, have been the promoting shareholders within the transaction.
Insurvia, which specialises in distributing insurance coverage insurance policies from greater than 50 insurance coverage corporations, has established long-standing relationships spanning greater than a decade to supply cost-effective insurance coverage protection choices to its prospects.
With its headquarters in Las Vegas, Insurvia contains subsidiaries Fiesta Auto Insurance coverage and La Familia Company.
Fiesta Insurance coverage, a retail franchisor, has 60 franchisees throughout eight states, working greater than 220 retail shops. La Familia Insurance coverage, an impartial company, gives insurance coverage providers by means of 70 retail storefronts in Texas.
Based on Gemspring, below its possession, Insurvia acquired a number of corporations to drive its progress throughout varied retailer places, created an omnichannel gross sales mannequin and launched varied new merchandise to cater to purchasers’ necessities.
Entry probably the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nevertheless, we wish you to take advantage of
helpful
choice for your small business, so we provide a free pattern which you can obtain by
submitting the under kind
By GlobalData
The most recent acquisition of Insurvia is according to BharCap’s strategic plan to put money into insurance coverage distribution companies.
BharCap co-founding associate Ethan Wang stated: “Danish Charanya and his group have constructed a number one insurance coverage distribution platform targeted on an unlimited and underserved auto insurance coverage market with a number of confirmed levers for future progress.
“This transaction suits one among BharCap’s key themes of investing in insurance coverage distribution companies given its recurring, fee-based enterprise mannequin pushed by state-mandated insurance coverage legal guidelines.”
The authorized advisory group for BharCap included Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis.
McDermott Will & Emery offered authorized counsel to Insurvia and the promoting shareholders through the acquisition course of, whereas Robert W. Baird & Co. and William Blair have been their monetary advisors.
Insurvia CEO Danish Charanya stated: “Insurvia gives a beautiful worth proposition to our customers, insurance coverage carriers and franchisees by means of our scale, entry to hard-to-reach prospects, aggressive charges and specialised customer support.”
Final yr in October, BharCap closed the acquisition of ARMStrong Receivable Administration.
[ad_2]
