M&A Deal Summary

Propel Insurance Holdings Acquires Alera Group

On September 8, 2021, Propel Insurance Holdings LLC acquired insurance company Alera Group from Genstar Capital

Acquisition Highlights
  • This is Propel Insurance Holdings’ 5th transaction in the Insurance sector.
  • This is Propel Insurance Holdings’ 5th transaction in the United States.
  • This is Propel Insurance Holdings’ 1st transaction in Illinois.

M&A Deal Summary

Date 2021-09-08
Target Alera Group
Sector Insurance
Buyer(s) Propel Insurance Holdings LLC
Sellers(s) Genstar Capital
Deal Type Merger
Advisor(s) Evercore Group LLC (Financial)
Harrington & McCarthy LLP
K&L Gates LLP (Legal)

Target

Alera Group

Deerfield, Illinois, United States
website
Alera Group is an independent insurance and wealth management firm offering comprehensive employee benefits, property and casualty, retirement services, and wealth management solutions to clients nationwide. Alera Group was founded in 2016 and is based in Deerfield, Illinois.

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Buyer(S) 1

Buyer

Propel Insurance Holdings LLC

Tacoma, Washington, United States

website


Category Company
Founded 1923
SectorInsurance
DESCRIPTION

Propel Insurance Holdings LLC is an insurance agency focused on commercial lines insurance, employee benefits, and high-net-worth personal lines. Propel Insurance is a recognized leader in providing innovative insurance solutions for its clients and has developed substantial expertise across a number of industry verticals, including construction, senior living, real estate, and sports and recreation. Propel Insurance Holdings LLC was founded in 1923 and is based in Tacoma, Washington.


DEAL STATS #
Overall 5 of 5
Sector (Insurance) 5 of 5
Type (Merger) 1 of 1
State (Illinois) 1 of 1
Country (United States) 5 of 5
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 South Risk Management

Columbia, South Carolina, United States

South Risk Management provides risk-management services and products in four areas: construction surety bonds, commercial insurance, personal insurance, and employee benefits. South Risk Management was founded in 2006 and is based in Columbia, South Carolina.

Buy -

Seller(S) 1

SELLER

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 19.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


DEAL STATS #
Overall 56 of 56
Sector (Insurance) 7 of 7
Type (Merger) 5 of 5
State (Illinois) 5 of 5
Country (United States) 51 of 51
Year (2021) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-31 Arrowhead Engineered Products, Inc.

Blaine, Minnesota, United States

Arrowhead Engineered Products is a specialty supplier and distributor of aftermarket replacement parts for a wide variety of equipment types across the outdoor power equipment, Powersports, agricultural, industrial and automotive industries. Arrowhead Engineered Products was founded in 1986 and is based in Blaine, Minnesota.

Buy -