M&A Deal Summary

IPFS Acquires AMGRO

On March 26, 2008, IPFS acquired financial services company AMGRO from Hanover Insurance Group

Acquisition Highlights
  • This is IPFS’s 2nd transaction in the Financial Services sector.
  • This is IPFS’s 3rd transaction in the United States.
  • This is IPFS’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2008-03-26
Target AMGRO
Sector Financial Services
Buyer(s) IPFS
Sellers(s) Hanover Insurance Group
Deal Type Divestiture

Target

AMGRO

Worcester, Massachusetts, United States
Amgro, Inc. is a provider of financial services to the property/casualty insurance industry.

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Buyer(S) 1

Buyer

IPFS

Kansas City, Missouri, United States
Category Company
Founded 1977
Sector Financial Services
DESCRIPTION

IPFS Corp. offers property and casualty insurance agents and brokers financing options for their customers' insurance premiums.

DEAL STATS #
Overall 3 of 5
Sector (Financial Services) 2 of 4
Type (Divestiture) 2 of 3
State (Massachusetts) 1 of 1
Country (United States) 3 of 5
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-15 Mepco Insurance Premium Finance

Chicago, Illinois, United States

Mepco Insurance Premium Finance, Inc. specializes in providing loans and payment plansto businesses and consumers to allow them to pay their insurance and vehicle service contract premiums over time.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-30 Universal Premium Acceptance

Lenexa, Kansas, United States

Universal Premium Acceptance Corp. is an insurance premium finance company specializing in providing short-term collateralized financing to facilitate the purchase of insurance for commercial property, casualty and liability risk. UPAC is one of the top ten insurance premium finance companies in the United States.

Buy -

Seller(S) 1

SELLER

Hanover Insurance Group

Worcester, Massachusetts, United States
Category Company
Founded 1852
Sector Insurance
Employees4,800
Revenue 6.0B USD (2023)
DESCRIPTION

Hanover Insurance Group is a provider of wide range of innovative property and casualty products and services to businesses, individuals, and families through a select group of independent agents and brokers. Hanover Insurance Group was founded in 1852 and is based in Worcester, Massachusetts.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 2
State (Massachusetts) 1 of 2
Country (United States) 1 of 2
Year (2008) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-14 Verlan Holdings

Silver Spring, Maryland, United States

Verlan Holdings, Inc., provides insurance for manufacturers and distributors of chemical-related products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-06 AIX Holdings

Windsor, Connecticut, United States

AIX Holdings, Inc., is a specialty property and casualty insurance carrier that focuses on underwriting and managing program business, utilizing alternative risk transfer techniques.

Buy -
Mergr

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