M&A Deal Summary
|Target||Relation Insurance Services, Inc.|
|Buyer(s)||Aquiline Capital Partners|
Century Equity Partners
|Deal Type||Secondary Buyout|
|Advisor(s)||Sandler O'Neill + Partners LP
Waller Helms Advisors LLC (Financial)
Kirkland & Ellis LLP (Legal)
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Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.
|Overall||39 of 56|
|Sector (Insurance)||9 of 11|
|Type (Secondary Buyout)||6 of 11|
|State (California)||6 of 9|
|Country (United States)||27 of 41|
|Year (2019)||2 of 7|
New York, New York, United States
GAN Integrity provides cloud-based compliance management software focused on anti-corruption. The platform manages policies, training, third-party due diligence, communications, and investigations for employees and suppliers. GAN Integrity was founded in 2004 and is based in New York City, New York.
Buffalo, New York, United States
Utilant is a provider of the P&C insurance industry’s premier loss control survey management through its LossControl360 SaaS solution. Utilant was established in 2005 and is based in Buffalo, New York.
Celerity Partners is a private equity firm that targets middle-market company investments. Target transaction types include growth equity, 'de-leveraging investments', management buyouts, corporate divestitures and recapitalizations. Celerity looks for companies with EBITDA between $2 and $20 million. Manufacturing and services are the primary focus of Celerity's interests. Specifically, the firm pursues electronic manufacturing services, safety products and services, outsourced healthcare services, outsourced pharmaceutical services, military/aerospace industry, IT services, document management/data services, niche manufacturing and marketing services. Celerity Partners was formed in 1995 and has offices in Los Angeles and Menlo Park, California.
|Overall||19 of 21|
|Sector (Insurance)||1 of 1|
|Type (Secondary Buyout)||8 of 8|
|State (California)||8 of 9|
|Country (United States)||17 of 19|
|Year (2019)||1 of 1|
Oakland Gardens, New York, United States
TotalCareRX, Inc. provides specialty and long-term care pharmacy services to patients primarily in transplant care, Cystic Fibrosis, HIV, and oncology therapeutic areas. TotalCareRX was founded in 2009 and is based in Oakland Gardens, New York.
Western Jet Aviation, Inc.
Van Nuys, California, United States
Western Jet Aviation, Inc. provides maintenance, repair, and avionics services for business and general aviation aircraft. Western Jet Aviation was founded in 1999 and is based in Van Nuys, California.
Century Equity Partners is an asset management firm invests in lower middle-market companies located in the US. Century Equity Partners focuses on companies with rapidly growing, profitable businesses led by strong management teams with an enterprise value between $15 and $300 million and equity capital ranging from $5 to $30 million and in conjunction with its limited partners and select co-investors can commit up to $100 million to a single transaction. The Firm targets companies operating in the fields of financial services, insurance, and healthcare services. Types of transactions include buyouts and growth capital. It seeks minority interest and also considers co-invests. Century Equity Partners was formed in 1987 and is based in Boston, Massachusetts.
|Overall||20 of 22|
|Sector (Insurance)||12 of 12|
|Type (Secondary Buyout)||4 of 4|
|State (California)||2 of 2|
|Country (United States)||15 of 17|
|Year (2019)||1 of 2|
Rimkus Consulting Group, Inc.
Houston, Texas, United States
Rimkus Consulting Group, Inc. is a forensic engineering firm providing engineering consulting services to insurance carriers, law firms, and self-insured corporations. Services range from technical analyses of complex insurance claims to a number of highly specialized offerings, including toxicology, biomechanics, and human factors. Rimkus also provides building engineering services to corporate clientele. Rimkus Consulting Group was founded in 1983 and is based in Houston, Texas.
McBee Associates, Inc.
Wayne, Pennsylvania, United States
McBee Associates, Inc. is the nation’s premier health care services and consulting firm that delivers financial, operational and clinical consulting services exclusively to healthcare providers across the continuum of care. For more than 45 years, McBee has designed services to ensure the success of clients by improving clinical, operational, and revenue cycle performance. McBee offers solutions that address the unique financial and operational needs of hospitals, home health, long-term care, and other organizations
Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $50 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.
|Overall||23 of 30|
|Sector (Insurance)||2 of 2|
|Type (Secondary Buyout)||6 of 8|
|State (California)||3 of 5|
|Country (United States)||23 of 30|
|Year (2019)||2 of 3|
Millennium Trust Co.
Oak Brook, Illinois, United States
Millennium Trust Co. is a provider of retirement and custody services, empowering clients with unmatched service, access to a wide range of custody solutions and expertise they can count on. Whether it’s the custody of alternative assets, investment accounts or retirement funds, Millennium Trust is uniquely qualified to support our clients’ success. Millennium Trust Company performs the duties of a directed custodian, and as such does not provide due diligence to third parties on prospective investments, platforms, sponsors or service providers and does not sell investments or provide investment, legal, or tax advice.
St. Louis, Missouri, United States
RedCard is a provider of claims communications, payments and enrollment technology and solutions to healthcare payors, providers and members. RedCard was founded in 2006 and is based in St. Louis, Missouri.