M&A Deal Summary

Galway Insurance Acquires Jencap

On June 19, 2020, Galway Insurance acquired insurance company Jencap from The Carlyle Group

Acquisition Highlights
  • This is Galway Insurance’s 2nd transaction in the Insurance sector.
  • This is Galway Insurance’s 2nd transaction in the United States.
  • This is Galway Insurance’s 1st transaction in New York.

M&A Deal Summary

Date 2020-06-19
Target Jencap
Sector Insurance
Buyer(s) Galway Insurance
Sellers(s) The Carlyle Group
Deal Type Add-on Acquisition

Target

Jencap

New York, New York, United States
Jencap is a specialty insurance distribution and program management business, including managing general agencies, specialty program underwriters, transactional wholesale brokers, and captive managers. JenCap Holdings has assembled a management team with the sector insight and experience to drive organic growth and strategic acquisition strategies leveraging technology and advanced data analytics. Jencap was founded in 2016 and is based in New York City.

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Buyer(S) 1

Buyer

Galway Insurance

Chicago, Illinois, United States

Category Company
Founded 2020
Sector Insurance
Employees3,100
DESCRIPTION

Galway Insurance is a vertically integrated property and casualty insurance and employee benefits. Galway Insurance operates over 100 offices throughout the US and manages $7bn of premium for clients. Galway Insurance was founded in 2020 and is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 3
Sector (Insurance) 2 of 2
Type (Add-on Acquisition) 2 of 3
State (New York) 1 of 1
Country (United States) 2 of 3
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-19 EPIC Insurance Brokers & Consultants

San Francisco, California, United States

EPIC Insurance Brokers & Consultants is a unique and innovative retail property & casualty and employee benefits insurance brokerage and consulting firm. EPIC's expertise across key lines of insurance, including risk management, property and casualty, employee benefits, unique specialty program insurance, and private client services. EPIC Insurance Brokers & Consultants was founded in 2007 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 Simatree

Arlington, Virginia, United States

Simatree is a strategic advisory firm specializing in data, analytics, technology consultation and digital transformation. Simatree was founded in 2018 and is based in Arlington, Virginia.

Buy -

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 398 of 482
Sector (Insurance) 4 of 8
Type (Add-on Acquisition) 170 of 198
State (New York) 15 of 18
Country (United States) 224 of 259
Year (2020) 17 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-19 Galway Insurance

Chicago, Illinois, United States

Galway Insurance is a vertically integrated property and casualty insurance and employee benefits. Galway Insurance operates over 100 offices throughout the US and manages $7bn of premium for clients. Galway Insurance was founded in 2020 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-25 Eggplant

London, United Kingdom

Eggplant enables organizations to test, monitor, analyze, and report on the quality and responsiveness of software applications across different interfaces, platforms, browsers, and devices, including mobile, IoT, desktop, and mainframe. Eggplant is based in London, United Kingdom.

Sell $330M