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M&A Deal Summary

Belvedere Capital Partners Acquires VRT Insurance Services

On October 31, 2007, private equity firm Belvedere Capital Partners acquired insurance company VRT Insurance Services

Acquisition Highlights
  • This is Belvedere Capital Partners’ 1st transaction in the Insurance sector.
  • This is Belvedere Capital Partners’ 3rd transaction in the United States.
  • This is Belvedere Capital Partners’ 2nd transaction in California.
Investment Fate
  • VRT Insurance Services was sold to a strategic buyer in 2009.

M&A Deal Summary
Date 2007-10-31
Target VRT Insurance Services
Sector Insurance
Buyer(s) Belvedere Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

VRT Insurance Services

San Mateo, California, United States
Established in 2007, VRT Insurance Services, Oakland, California, is a fast-growing regional brokerage providing customized, expert insurance services and offerings including Commercial Insurance, Employee Benefits, Enterprise Risk Management, Risk Consulting, Surety and Financial Services. Already licensed throughout the United States, VRT offers insurance and consulting expertise in areas such as construction; real estate; technology; life sciences; financial institutions; early-stage, emerging growth companies; and general business.

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Buyer(S) 1

Buyer

Belvedere Capital Partners

San Francisco, California, United States
Category Private Equity Firm
Founded 1994
Size Small
Type Sector Focused
DESCRIPTION

Belvedere Capital is a private equity firm that targets investments in the financial services sector. Specific areas of interest include banks, wealth managers, investment advisories, brokerages, insurance firms, and other related financial service companies. The Firm's can commit and/or mezzanine capital and looks to invest $5 to $40 million per transaction. Belvedere was formed in 1994 and is based in San Francisco. The Firm is in harvest mode and will not be making any new investments or raising a new fund.

DEAL STATS #
Overall 3 of 3
Sector: Insurance M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 3
State: California M&A 2 of 2
Country: United States M&A 3 of 3
Year: 2007 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 Spectrum Bank

Irvine, California, United States

Headquartered in Irvine, California, Spectrum Bank provides its customers with the cutting edge technology and personalized service that have been the keystone of the bank since its 1955 founding. Spectrum Bank?s mission is to consistently provide professional, friendly and secure banking services for business and individual customers with the desire to grow with its customers. Spectrum Bank is an operating subsidiary of Belvedere's Southern California organic growth and roll-up platform, Belvedere SoCal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 BenefitStreet

San Ramon, California, United States

Leveraging its strong technology platform, BenefitStreet provides software and record keeping solutions for employee benefits programs with over 7,000 corporate clients, including Google, the San Francisco 49ers, Stanford University and Sony Playstation.

Sell -
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