Add-on Acquisition • Financial Services

Assurant Acquires American Financial & Automotive Service

On May 5, 2020, Assurant acquired financial services company American Financial & Automotive Service

Acquisition Context
  • This is Assurant’s 3rd transaction in the Financial Services sector.
  • This is Assurant’s 11th transaction in the United States.
  • This is Assurant’s 1st transaction in Texas.

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M&A Deal Summary

Date May 5, 2020
Target American Financial & Automotive Service
Sector Financial Services
Buyer(s) Assurant
Deal Type Add-on Acquisition

Target Company

American Financial & Automotive Service

The Woodlands, Texas, United States
American Financial & Automotive Service, Inc. is a provider of auto finance and insurance products and services, including vehicle service contracts, guaranteed asset protection insurance, and other ancillary products sold directly through a network of nearly 600 franchised dealership clients across 40 states. American Financial & Automotive Service is based in The Woodlands, Texas.
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Buyer Overview 1

Buyer

Assurant

Atlanta, Georgia, United States

Category Company
Founded 1892
Sector Insurance
Employees14,200
Revenue 11.5B USD (2024)
DESCRIPTION
Assurant office complex in Doral, Florida.
Assurant office complex in Doral, Florida.

Assurant is a provider of specialty insurance products in the U.S. and in select worldwide markets. The company operates its business through four business segments: Assurant Employee Benefits, Assurant Health, Assurant Solutions, and Assurant Specialty Property. Assurant was incorporated in 1969 and is based in Atlanta, Georgia.


Deal Context for Buyer #
Overall 13 of 17
Sector: Financial Services 3 of 3
Type: Add-on Acquisition 7 of 11
State: Texas 1 of 2
Country: United States 11 of 14
Year: 2020 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-31 Cell Phone Repair

Independence, Ohio, United States

Cell Phone Repair (CPR) is one of the largest global franchisors of mobile device repair stores with more than 700 locations across several countries, the majority of which are in the US. The CPR franchise specializes in a wide variety of electronic device repairs including smartphones, computers, laptops, game consoles, cameras and mp3 players. CPR franchise stores also offer consumers the ability to sell and buy pre-owned devices at their local store. CPR’s roots go back to 1996 with the opening of its first walk-in cell phone repair shop in Orlando, Florida.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 Fixt

Baltimore, Maryland, United States

Asurvest, Inc. is a provider of on-demand mobile device support and repair. Asurvest is based in Baltimore, Maryland.

Buy -