Buyout (LBO, MBO, MBI) • Insurance

Genstar Capital Acquires MASA Global

On March 24, 2020, private equity firm Genstar Capital acquired insurance company MASA Global

Acquisition Context
  • This is Genstar Capital’s 12th transaction in the Insurance sector.
  • This is Genstar Capital’s 83rd transaction in the United States.
  • This is Genstar Capital’s 3rd transaction in Florida.

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M&A Deal Summary

Date March 24, 2020
Target MASA Global
Sector Insurance
Buyer(s) Genstar Capital
Deal Type Buyout (LBO, MBO, MBI)

Target Company

MASA Global

Sunrise, Florida, United States
MASA Global offers pre-paid membership programs providing coverage for medical emergency transportation services, including ground ambulance, helicopter, and chartered aircraft between healthcare providers both domestically and internationally. Memberships are currently sold through five well-established sales channels: direct-to-consumer, employers, international, third party brokers, and funeral homes / final expense providers. MASA Global was founded in 1974 and is based in Sunrise, Florida.
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Buyer Overview 1

Buyer

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Genstar Capital is a private equity firm that seeks investments in life science, healthcare, medical products, industrial technology, software, financial services, packaging, building materials, manufacturing, and business services companies. Genstar looks to invest between $50 and $400 million of equity capital in businesses valued up to $1 billion. Target transaction situations include control-oriented leveraged buyouts of corporate divisions, privately held businesses or public companies, minority investments in privately held businesses or public companies, ownership restructurings/recapitalizations of privately held businesses, growth equity financings, partnerships with other strategic or financial buyers, and take privates. Genstar Capital was formed in 1988 and is based in San Francisco, California.


Deal Context for Buyer #
Overall 90 of 112
Sector: Insurance 12 of 14
Type: Buyout (LBO, MBO, MBI) 25 of 26
State: Florida 3 of 5
Country: United States 83 of 104
Year: 2020 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-10 ConnectiveRx

Whippany, New Jersey, United States

ConnectiveRx is a provider of outsourced commercialization services to over 140 drug manufacturers. The Company works as a strategic partner to pharmaceutical brand teams, offering solutions that improve patient affordability, access, and adherence to traditional and specialty prescription medications. ConnectiveRx was founded in 2005 and is based in Whippany, New Jersey.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-27 Obsidian

New York, New York, United States

Obsidian is an insurance fronting platform built to support the increasing market need of Managing General Agents, Managing General Underwriters, and program managers that want to connect with reinsurers that seek primary layer access. Obsidian operates an A.M. Best rated “A-“ insurance carrier subsidiary to source, underwrite, and manage a diverse portfolio of property, casualty, and specialty insurance programs, while reinsuring the majority of the business to select reinsurers. Obsidian was founded in 2020 and is based in New York, New York.

Buy -