Investment Summary

Genstar Capital Invests In Obsidian

On March 27, 2020, private equity firm Genstar Capital invested in insurance company Obsidian

Investment Highlights
  • This is Genstar Capital’s 13th transaction in the Insurance sector.
  • This is Genstar Capital’s 83rd transaction in the United States.
  • This is Genstar Capital’s 5th transaction in New York.

Investment Summary
Date 2020-03-27
Target Obsidian
Sector Insurance
Investor(s) Genstar Capital
Deal Type Growth Capital

Target

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.

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Investor(S) 1

Investor

Genstar Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 49.0B 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 STATS #
Overall 90 of 109
Sector (Insurance) 13 of 14
Type (Growth Capital) 7 of 8
State (New York) 5 of 8
Country (United States) 83 of 101
Year (2020) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-24 MASA Global

Plantation, 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 is based in Plantation, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-26 Innovative Aftermarket Systems

Austin, Texas, United States

Innovative Aftermarket Systems LP is a provider of automotive warranties, vehicle services contracts (VSC), training, and related software and services sold across a broad and diverse distribution network. IAS was formed in 1984 and is headquartered in Austin, Texas IAS with offices in Oklahoma City, OK, and Dublin, OH.

Sell -
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