M&A Deal Summary

Apax Acquires AssuredPartners

On October 22, 2015, private equity firm Apax acquired insurance company AssuredPartners from GTCR

Acquisition Highlights
  • This is Apax’s 4th transaction in the Insurance sector.
  • This is Apax’s 63rd transaction in the United States.
  • This is Apax’s 3rd transaction in Florida.
Investment Fate
  • AssuredPartners was sold to a consortium of financial buyers in 2019.

M&A Deal Summary

Date 2015-10-22
Target AssuredPartners
Sector Insurance
Buyer(s) Apax
Sellers(s) GTCR
Deal Type Secondary Buyout
Advisor(s) BofA Securities
Barclays Investment Bank
Morgan Stanley (Financial)
Kirkland & Ellis (Legal)

Target

AssuredPartners

Lake Mary, Florida, United States
website
AssuredPartners is a full-service insurance broker, offering property and casualty and employee benefits insurance products and services to middle-market businesses, public institutions, and high-net-worth individuals. AssuredPartners was founded in 2011 and is based in Lake Mary, Florida.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 167 of 246
Sector (Insurance) 4 of 6
Type (Secondary Buyout) 30 of 61
State (Florida) 3 of 5
Country (United States) 63 of 95
Year (2015) 12 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-09 Zensar

Pune, India

Zensar is a digital solutions and technology services company focusing on enterprise digital transformation. The company has offerings across the digital value chain, with a proven track record of innovation delivered through its ‘Return on Digital NeXT (RoDNeXT)’ framework. Zensar was formed in 1963 and is based in Pune, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-08 Melita

Mriehel By-Pass, Malta

Melita is a provider of high-speed broadband and mobile services as well as a premium TV to households and businesses connected to its state-of-the-art telecom network in Malta. It owns and operates a fully invested, over 1,600km long HFC network as well as a 5G-ready mobile network with its own tower and small cell footprint. Melita was founded in 1991 and is based in Mriehel By-Pass, Malta.

Buy -

Seller(S) 1

SELLER

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 55 of 84
Sector (Insurance) 4 of 4
Type (Secondary Buyout) 14 of 21
State (Florida) 3 of 6
Country (United States) 53 of 81
Year (2015) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 The Townsend Group

Cleveland, Ohio, United States

The Townsend Group LLC is a provider of global investment management and advisory services focused exclusively on real estate and real assets. The Townsend Group LLC was established in 1983 and is based in Cleveland, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-30 Park Place Technologies

Cleveland, Ohio, United States

Park Place Technologies is a third-party maintenance (TPM) provider that offers organizations an alternative to post-warranty storage, server and networking hardware maintenance and support in the data center. Park Place Technologies supports EMC, Dell, IBM, Cisco, Hitachi, NetApp, HP, Sun/Oracle and other data center hardware equipment in over 70 countries. Park Place Technologies was founded in 1991 and is based in Cleveland, Ohio.

Buy -