1. Home >
  2. M&A >
  3. Add-on Acquisition >
  4. United States >
  5. Louisiana >
  6. Bernhard Capital Partners Exits Gray Surety

Investment Summary

Bernhard Capital Partners Exits Gray Surety

On October 30, 2025, Palomar invested in financial services company Gray Surety from Bernhard Capital Partners

Investment Highlights
  • This is Palomar’s 1st transaction in the Financial Services sector.
  • This is Palomar’s 3rd transaction in the United States.
  • This is Palomar’s 1st transaction in Louisiana.

Investment Summary
Date 2025-10-30
Target Gray Surety
Sector Financial Services
Investor(s) Palomar
Sellers(s) Bernhard Capital Partners
Deal Type Add-on Acquisition
Advisor(s) J.P. Morgan Securities (Financial)
Kirkland & Ellis (Legal)

Target

Gray Surety

Mandeville, Louisiana, United States
Gray Surety is a provider of surety bond solutions offering contract, commercial, and specialty bonds to contractors, businesses, and individuals. Gray Surety focuses on underwriting flexible and reliable bonding programs supported by strong financial backing and personalized service. Gray Surety was founded in 2003 and is based in Mandeville, Louisiana.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Investor(S) 1

Investor

Palomar

La Jolla, California, United States
Category Company
Founded 2013
Sector Insurance
Employees253
Revenue 554M USD (2024)
DESCRIPTION

Palomar is an insurer that focuses on the provision of specialty property insurance for residential and commercial clients. Palomar’s underwriting and analytical acumen allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, wind and flood insurance. Based in La Jolla, California, the company is an admitted carrier in 25 states. Palomar was founded in 2013 and is based in La Jolla, California.

DEAL STATS #
Overall 3 of 3
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: Louisiana M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-20 Advanced AgProtection

Amarillo, Texas, United States

Advanced AgProtection specialized Crop Managing General Agent. The AAP team is comprised of industry veterans with longstanding relationships and a proven track record in the Crop insurance sector.

Buy -

Seller(S) 1

SELLER

Bernhard Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Small
Type Sector Agnostic
DESCRIPTION

Bernhard Capital Partners is a private equity firm focused on acquiring and investing in middle-market services companies. Bernhard Capital Partners was formed in 2013 and is headquartered in Baton Rouge, Louisiana.

DEAL STATS #
Overall 4 of 4
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Louisiana M&A 3 of 3
Country: United States M&A 4 of 4
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-07 Brown & Root Industrial Services

Baton Rouge, Louisiana, United States

Brown & Root Industrial Services offers a full range of industrial services, including engineering, construction, maintenance, turnarounds, soft crafts, and specialty services. Brown & Root Industrial Services is based in Baton Rouge, Louisiana.

Sell -
Mergr

Solution for

Product

Company

Legal