M&A Deal Summary

Sproutt Acquires The Reder Agency

On March 28, 2023, Sproutt acquired insurance company The Reder Agency

Acquisition Highlights
  • This is Sproutt’s 1st transaction in the Insurance sector.
  • This is Sproutt’s 1st transaction in the United States.
  • This is Sproutt’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2023-03-28
Target The Reder Agency
Sector Insurance
Buyer(s) Sproutt
Deal Type Add-on Acquisition

Target

The Reder Agency

West Hartford, Connecticut, United States
The Reder Agency is a full-service life insurance brokerage specializing in the traditional and senior markets. The Reder Agency was founded in 2012 and is based in West Hartford, Connecticut.

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Buyer(S) 1

Buyer

Sproutt

Hartford, Connecticut, United States
Category Company
Founded 2018
Sector Insurance
DESCRIPTION

Sproutt is a life insurance company that modernizes life insurance distribution for agencies, agents, and their customers. Leveraging data and AI, the Sproutt SmartLife platform is set to reshape Life insurance distribution. The platform empowers insurance producers to efficiently assess risk, tailor policies, and enhance customer experience in the most effective and scalable way. Sproutt sells its policies through agents and brokers via its SmartLife for Agents and Agencies. Sproutt was founded in 2018 and is based in Hartford, Connecticut.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Connecticut) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Mergr

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