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M&A Deal Summary

Altaris Acquires Trean Insurance

On December 16, 2022, private equity firm Altaris acquired insurance company Trean Insurance for 316M USD

Acquisition Highlights
  • This is Altaris’ 4th transaction in the Insurance sector.
  • This is Altaris’ 5th largest (disclosed) transaction.
  • This is Altaris’ 34th transaction in the United States.
  • This is Altaris’ 6th transaction in Minnesota.

M&A Deal Summary
Date 2022-12-16
Target Trean Insurance
Sector Insurance
Buyer(s) Altaris
Deal Type Going Private
Deal Value 316M USD
Advisor(s) Houlihan Lokey (Financial)
Bass, Berry & Sims (Legal)

Target

Trean Insurance

Wayzata, Minnesota, United States
Trean Insurance provides products and services to the specialty insurance market. Trean underwrites specialty casualty insurance products both through its program partners and its own managing general agencies. Trean also provides its program partners with a variety of services including issuing carrier services, claims administration, and reinsurance brokerage. Trean Insurance was formed in 1996 and is based in Wayzata, Minnesota.

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Buyer(S) 1

Buyer

Altaris

New York City, New York, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Altaris is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris was formed in 2004 and is based in New York, New York.

DEAL STATS #
Overall 36 of 39
Sector: Insurance M&A 4 of 4
Type: Going Private M&A Deals 3 of 4
State: Minnesota M&A 6 of 6
Country: United States M&A 34 of 36
Year: 2022 M&A 2 of 2
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-14 Meridian Medical Technologies

St. Louis, Missouri, United States

Meridian Medical Technologies designs, develops, manufactures and supplies on-the-scene emergency response treatments and health security solutions with a focus on complex drug-device combination products. Meridian Medical Technologies is based in St. Louis, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-17 HealthTronics

Austin, Texas, United States

HealthTronics provides mobile equipment services, medical devices and information technology solutions to the urology industry. The company partners with physician groups to facilitate equipment ownership and to provide logistical support for mobile lithotripsy, laser and cryoablation units. In addition, HealthTronics offers a line of cryoablation devices as well as a urology-specific IT platform. HealthTronics was founded in 1972 and is based in Austin, Texas.

Sell -
Mergr

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