Add-on Acquisition • Insurance

National General Holdings Acquires Imperial Fire & Casualty Insurance Co.

On June 27, 2014, National General Holdings acquired insurance company Imperial Fire & Casualty Insurance Co. from Southport Lane Management

Acquisition Context
  • This is National General Holdings’ 2nd transaction in the Insurance sector.
  • This is National General Holdings’ 2nd transaction in the United States.
  • This is National General Holdings’ 2nd transaction in Louisiana.

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M&A Deal Summary

Date June 27, 2014
Target Imperial Fire & Casualty Insurance Co.
Sector Insurance
Buyer(s) National General Holdings
Sellers(s) Southport Lane Management
Deal Type Add-on Acquisition

Target Company

Imperial Fire & Casualty Insurance Co.

Opelousas, Louisiana, United States
Imperial Fire & Casualty Insurance Co. is a provider of insurance products including personal auto, commerical auto, personal property and flood policies.
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Buyer Overview 1

Buyer

National General Holdings

New York, New York, United States

Category Company
Founded 1939
Sector Insurance
Employees8,440
Revenue 5.2B USD (2019)
DESCRIPTION

National General Holdings Corp. is a specialty personal lines insurance holding company that provides personal and commercial automobile, recreational vehicle, motorcycle, homeowners, supplemental health, and other niche insurance products. National General Holdings was founded in 1939 and is based in New York, New York.


Deal Context for Buyer #
Overall 2 of 13
Sector: Insurance 2 of 11
Type: Add-on Acquisition 2 of 7
State: Louisiana 2 of 2
Country: United States 2 of 13
Year: 2014 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-27 National Automotive Insurance Co.

Metairie, Louisiana, United States

National Automotive Insurance Company (NAIC) specializes in providing personal auto Insurance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-26 Healthcare Solutions Team

Lombard, Illinois, United States

Healthcare Solutions Team, Inc. is a provider of health insurance coverage. HST offers an array of coverages including: short-term medical coverage; critical illness plans; dental insurance; Medicare supplements and life insurance; simple Health Savings Accounts (HSA); small business, self-employed and group health care; and major medical plans for individuals and families.

Buy -

Seller Profile 1

SELLER

Southport Lane Management

New York, New York, United States

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

Southport Lane is a private equity and asset management firm. The Firm's private equity practice invests in asset-based financings, structured recapitalizations, buyouts of small-to-medium size companies, public-to-private transactions, and distressed (turn-around) opportunities. Southport generally invests in credit-based instruments, however the Firm will also equity commitments. The Firm's target investment size ranges from $25 to $250 million. Sectors of interest include insurance, consumer products/services, oil/natural gas, renewable energy, and wine. Southport Lane was formed in 2010 and is based in New York City.


Deal Context for Seller #
Overall 1 of 1
Sector: Insurance 1 of 1
Type: Add-on Acquisition 1 of 1
State: Louisiana 1 of 1
Country: United States 1 of 1
Year: 2014 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-03 Imperial Fire & Casualty Insurance Co.

Opelousas, Louisiana, United States

Imperial Fire & Casualty Insurance Co. is a provider of insurance products including personal auto, commerical auto, personal property and flood policies.

Buy -