Investment Summary

Northlane Capital Partners and Apogem Capital Invest In Choice Insurance Agency

On November 2, 2021, private equity firm Northlane Capital Partners and asset manager Apogem Capital invested in insurance company Choice Insurance Agency

Investment Highlights
  • This is Northlane Capital Partners’ 1st and Apogem Capital’s 2nd transaction in the Insurance sector.
  • This is Northlane Capital Partners’ 12th and Apogem Capital’s 66th transaction in the United States.
  • This is Northlane Capital Partners’ 1st and Apogem Capital’s 2nd transaction in Virginia.

Investment Summary

Date 2021-11-02
Target Choice Insurance Agency
Sector Insurance
Investor(s) Northlane Capital Partners
Apogem Capital
Deal Type Growth Capital
Advisor(s) Sica Fletcher LLC (Financial)
Wolcott Rivers Gates (Legal)

Target

Choice Insurance Agency

Virginia Beach, Virginia, United States
website
Choice Insurance Agency is an insurance broker and industry leader that specializes in delivering strategic support for the profitable growth of property & casualty, life, health, and employee benefits insurance agencies. Choice Insurance Agency was formed in 1998 and is based in Virginia Beach, Virginia.

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Investor(S) 2

Investor
DESCRIPTION

Northlane Capital Partners is a private equity firm focused on acquiring mid-sized companies in the healthcare and business services sectors. The Firm looks to invest $25 to $150 million in profitable businesses valued up to $300 million. Northlane prefers companies with defensible market positions, recurring revenue business models, strong prospects for growth, and products with inelastic prices. Northlane Capital Partners was formed in 2014 and is headquartered in Bethesda, Maryland.


DEAL STATS #
Overall 13 of 15
Sector (Insurance) 1 of 1
Type (Growth Capital) 5 of 7
State (Virginia) 1 of 1
Country (United States) 12 of 14
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-29 Discovery Data

Eatontown, New Jersey, United States

Discovery Data is a provider of information services used to identify and reach firms and professionals in the financial services and insurance industries for effective product distribution, recruitment, and targeted marketing campaigns. Discovery Data was founded in 2002 and is based in Eatontown, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-07 SAI MedPartners

Reading, Pennsylvania, United States

SAI MedPartners is a consultancy providing strategic insights and analytics to the pharmaceutical, biotechnology, and medical device industries. SAI MedPartners is based in Reading, Pennsylvania.

Buy -
Investor

Apogem Capital

Chicago, Illinois, United States

website


Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 66 of 69
Sector (Insurance) 2 of 2
Type (Growth Capital) 9 of 11
State (Virginia) 2 of 2
Country (United States) 66 of 69
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 T2 Systems

Indianapolis, Indiana, United States

T2 Systems is a provider of unified SaaS (Software as a Service) parking management solutions. T2 Systems's comprehensive portfolio of services includes solutions that help organizations manage parking permits, citations, gated parking facilities, and special events. T2 Systems was established in 1994 and is based in Indianapolis, Indiana.

Sell $356M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 Race Winning Brands

Mentor, Ohio, United States

Race Winning Brands is a designer, manufacturer, and distributor of branded automotive aftermarket and powersports aftermarket products for enthusiast and racing consumers. RWB consists of a 12-brand portfolio of high-performance aftermarket product categories, with applications across a diverse group of automotive and powersports vehicle segments. According to industry research, the enthusiast powersport segment has seen annualized growth of 10-15 percent over the last 18 months with forecasted growth of six to eight percent over the next 12 months. Racing Winning Brands is based in Mentor, Ohio.

Sell -