M&A Deal Summary

Alera Group Acquires Propel Insurance

On September 8, 2021, Alera Group acquired insurance company Propel Insurance from Flexpoint Ford

Acquisition Highlights
  • This is Alera Group’s 85th transaction in the Insurance sector.
  • This is Alera Group’s 96th transaction in the United States.
  • This is Alera Group’s 3rd transaction in Washington.

M&A Deal Summary
Date 2021-09-08
Target Propel Insurance
Sector Insurance
Buyer(s) Alera Group
Sellers(s) Flexpoint Ford
Deal Type Merger
Advisor(s) Barclays Investment Bank (Financial)
Levenfeld Pearlstein
Kirkland & Ellis (Legal)

Target

Propel Insurance

Tacoma, Washington, United States
Propel Insurance is an insurance agency focused on commercial lines insurance, employee benefits, and high-net-worth personal lines. Propel Insurance provides 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 was founded in 1923 and is based in Tacoma, Washington.

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Buyer(S) 1

Buyer

Alera Group

Deerfield, Illinois, United States
Category Company
Founded 2016
Sector Insurance
DESCRIPTION

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.

DEAL STATS #
Overall 96 of 138
Sector (Insurance) 85 of 114
Type (Merger) 1 of 1
State (Washington) 3 of 4
Country (United States) 96 of 138
Year (2021) 11 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-30 Sitzmann Morris & Boyle

Lafayette, California, United States

SMB is a financial services agency providing wealth-preserving strategies and life insurance products and services nationwide. SMB was founded in 1965 and is based in Lafayette, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 Fendley Benefits

Flagstaff, Arizona, United States

Fendley Benefits is an employee benefits firm that focuses on cost management, compliance, HR support, technology, and employee advocacy. The company prioritizes innovative cost management strategies, direct client service and offers an array of products and solutions to employers and employees alike. Fendley Benefits is based in Flagstaff, Arizona.

Buy -

Seller(S) 1

SELLER

Flexpoint Ford

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 7.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Flexpoint Ford is a private equity firm focused on investments in healthcare and financial services companies. Flexpoint prefers control based investments and looks to commit $50 to $500 million per transaction. The Firm is flexible when it comes to investment structure and asset class. Flexpoint Ford was formed in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 19 of 21
Sector (Insurance) 4 of 5
Type (Merger) 1 of 1
State (Washington) 2 of 2
Country (United States) 19 of 21
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 PayFacto

Verdun, Quebec, Canada

PayFacto provides payment processing and point-of-sale (POS) systems focused on the hospitality market. The Company enables merchants of all shapes and sizes to take control of their electronic transactions. With its own proprietary payment gateway and SaaS point-of-sale technology, PayFacto offers a differentiated suite of integrated payment and POS solutions supported locally through its extensive network of hundreds of distributors and resellers. PayFacto was founded in 2018 and is based in Verdun, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-08 Clearstead

Cleveland, Ohio, United States

Clearstead is an operator of institutional and private wealth management firm that provides financial solutions, prominent endowments, foundations, hospitals, and other institutions with objective and high-quality investment advisory services. Clearstead was founded in 1989 and is based in Cleveland, Ohio.

Buy -
Mergr

Product

Company

Legal