M&A Deal Summary

HGGC Acquires Trucordia

On April 1, 2020, private equity firm HGGC acquired insurance company Trucordia from BHMS Investments

Acquisition Highlights
  • This is HGGC’s 4th transaction in the Insurance sector.
  • This is HGGC’s 33rd transaction in the United States.
  • This is HGGC’s 3rd transaction in Utah.

M&A Deal Summary

Date 2020-04-01
Target Trucordia
Sector Insurance
Buyer(s) HGGC
Sellers(s) BHMS Investments
Deal Type Secondary Buyout

Target

Trucordia

Lindon, Utah, United States
Trucordia is a full-service insurance brokerage firm that provides complete risk management solutions with a broad array of property & casualty, life and health, employee benefits, and workers' compensation insurance products. Trucordia was formed in 1987 and is based in Lindon, Utah.

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Buyer(S) 1

Buyer

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.


DEAL STATS #
Overall 37 of 52
Sector: Insurance M&A 4 of 6
Type: Secondary Buyout M&A Deals 10 of 15
State: Utah M&A 3 of 5
Country: United States M&A 33 of 43
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-05 Innovative Interfaces

Emeryville, California, United States

Innovative Interfaces, Inc. is a provider of library automation software and systems that empower libraries and enrich their users worldwide. Innovative offers one of the most comprehensive portfolios of library automation products on the market today, serving academic, public, national, corporate, and special libraries and consortia. Headquartered in Emeryville, California, Innovative has a global presence serving thousands of libraries in 66 countries and offices worldwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-10 iQor

Fort Lauderdale, Florida, United States

iQor is a provider of business process outsourcing and product support services. iQor partners with many of the world's best-known brands to deliver solutions spanning the consumer value chain, from customer care and receivables management to product diagnostics and repair services. iQor was founded in 1998 and is based in Fort Lauderdale, Florida.

Sell -

Seller(S) 1

SELLER

BHMS Investments

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

BHMS Investments is a middle-market private investment firm. BHMS targets a vareity of control investment situations, from distressed to traditional leveraged buyouts. Key characteristics of prospective transactions/businesses include sustainable competitive advantages, strong customer value proposition, strong free cash flow, 'favorable long-term prospects', and 'rational industry dynamics'. BHMS was formed in 2010 and is based in New York City.


DEAL STATS #
Overall 2 of 3
Sector: Insurance M&A 2 of 2
Type: Secondary Buyout M&A Deals 2 of 2
State: Utah M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-18 Advanced Service Solutions

Hammonton, New Jersey, United States

Advanced Service Solutions is a provider of facilities maintenance management, offering interior and exterior services to commercial clients nationwide. The services consist of landscaping, snow removal, parking lot maintenance, janitorial services, HVAC, plumbing, commercial fit-outs and restaurant equipment maintenance. Advanced serves commercial businesses in 47 U.S. states with a large presence in Pennsylvania, New York and New Jersey. The senior management team continues to be significant shareholders in the company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 Inszone Insurance Services

Rancho Cordova, California, United States

Inszone Insurance Services is a full-service insurance brokerage firm that provides a broad array of property & casualty and employee benefits solutions. Inszone Insurance Services was founded in 2002 and is based in Rancho Cordova, California.

Buy -