M&A Deal Summary

Milestone Partners Acquires Drive Assurance

On May 26, 2022, private equity firm Milestone Partners acquired insurance company Drive Assurance

Acquisition Highlights
  • This is Milestone Partners’ 2nd transaction in the Insurance sector.
  • This is Milestone Partners’ 38th transaction in the United States.
  • This is Milestone Partners’ 1st transaction in Louisiana.

M&A Deal Summary
Date 2022-05-26
Target Drive Assurance
Sector Insurance
Buyer(s) Milestone Partners
Deal Type Consolidation

Target

Drive Assurance

Baton Rouge, Louisiana, United States
Drive Assurance is a specialty auto insurance holding company with investments in GoAuto, a tech-focused, vertically integrated personal auto insurance platform providing low-limit policies through its managing general agent and insurance carrier subsidiaries, and Adaptive Information Technologies (AIT), GoAuto’s affiliated technology platform. Drive Assurance leverages AIT’s proprietary data analytics and underwriting software while distributing policies direct-to-consumer online and through 70 captive storefronts across Louisiana, Texas, Nevada and Ohio. Drive Assurance is based in Baton Rouge, Louisiana.

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Buyer(S) 1

Buyer

Milestone Partners

Villanova, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 650M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Milestone Partners is a lower middle-market private equity firm specializing in investments in manufacturing, distribution, and service companies. Milestone looks for businesses valued up to $250 million with EBITDA of $5 to $50 million. The Firm's target revenue size is $10 to $250 million. Milestone prefers companies with growth potential and proven management. The Firm will not invest in businesses in high cyclical industries, with low barriers to entry, or have a high reliance on technology. Milestone Partners was formed in 1995 and is based in Villanova, Pennsylvania.

DEAL STATS #
Overall 39 of 40
Sector (Insurance) 2 of 2
Type (Consolidation) 2 of 2
State (Louisiana) 1 of 1
Country (United States) 38 of 39
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-17 Heights Finance

Greenville, South Carolina, United States

Heights Finance is a consumer finance company that provides attractive, easy-to-understand installment loan and related insurance products primarily to customers with limited access to credit from banks and credit card companies. Heights Finance was founded in 1953 and is based in Greenville, South Carolina.

Sell $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 RedZone Robotics

Warrendale, Pennsylvania, United States

RedZone Robotics is a technology-enabled solutions business that uses proprietary robots and software tools to provide inspection, data collection, and asset management services primarily for wastewater pipeline systems. RedZone Robotics was founded in 1987 and is based in Warrendale, Pennsylvania.

Sell -
Mergr

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