Investment Summary

Madison Capital Funding and Northlane Capital Partners Invests In Choice Financial Group

On November 2, 2021, Madison Capital Funding LLC and private equity firm Northlane Capital Partners invested in insurance company Choice Financial Group LLC

Investment Highlights
  • This is Madison Capital Funding’s 2nd and Northlane Capital Partners’ 1st transaction in the Insurance sector.
  • This is Madison Capital Funding’s 65th and Northlane Capital Partners’ 12th transaction in the United States.
  • This is Madison Capital Funding’s 2nd and Northlane Capital Partners’ 1st transaction in Virginia.

Investment Summary

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

Target

Choice Financial Group LLC

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

Madison Capital Funding LLC

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 8.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Madison Capital Funding is an affiliate of the New York Life Insurance Company. Madison Capital looks to fund leveraged buyouts, leveraged recapitalizations, add–on acquisitions, and various growth investments by investing across the capital structure. Madison Capital targets profitable companies with at least $3.5 million of EBITDA and can invest up to $200 million per transaction. Madison Capital Funding was formed in 2001 and is based in Chicago, Illinois.


DEAL STATS #
Overall 65 of 66
Sector (Insurance) 2 of 2
Type (Growth Capital) 8 of 9
State (Virginia) 2 of 2
Country (United States) 65 of 66
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 T2 Systems, Inc.

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 Racing Winning Brands, Inc.

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 -
Investor

Northlane Capital Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2014
PE ASSETS 1.6B USD
SizeLarge
Type Sector Focused
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, Inc.

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 LLC

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 -