M&A Deal Summary

TIH Insurance Holdings Acquires Constellation Affiliated Partners

On May 24, 2021, TIH Insurance Holdings acquired insurance company Constellation Affiliated Partners from RedBird Capital Partners

Acquisition Highlights
  • This is TIH Insurance Holdings’ 2nd transaction in the Insurance sector.
  • This is TIH Insurance Holdings’ 2nd transaction in the United States.
  • This is TIH Insurance Holdings’ 1st transaction in New York.

M&A Deal Summary
Date 2021-05-24
Target Constellation Affiliated Partners
Sector Insurance
Buyer(s) TIH Insurance Holdings
Sellers(s) RedBird Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Evercore Group (Financial)
Fried Frank Harris Shriver & Jacobson (Legal)

Target

Constellation Affiliated Partners

New York, New York, United States
Constellation Affiliated Partners is a national Managing General Agent insurance distribution platform. Developed as a platform buy-and-build in partnership with experienced insurance executive, Bill Goldstein, Constellation’s strategy is centered around partnering with MGAs, MGUs, and specialty wholesalers to establish a diversified scale book of premiums and distribution capabilities for its carrier partners. The company writes a diverse set of insurance lines, including contractors’ general liability, commercial transportation, specialty, and professional liability. Constellation Affiliated Partners was formed in 2019 and is based in New York, New York.

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Buyer(S) 1

Buyer

TIH Insurance Holdings

Charlotte, North Carolina, United States
Category Company
Sector Insurance
DESCRIPTION

TIH Insurance Holdings is an insurance broker that operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and it's Premium Finance companies (AFCO Credit Corporation, Prime Rate Premium Finance Corporation, Inc., and CAFO Inc.). TIH Insurance Holdings is based in Charlotte, North Carolina.

DEAL STATS #
Overall 2 of 5
Sector (Insurance) 2 of 3
Type (Add-on Acquisition) 2 of 4
State (New York) 1 of 2
Country (United States) 2 of 5
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-07 Wellington Insurance Group

Fort Worth, Texas, United States

Wellington Insurance Group is a full-service managing general agent platform deploying third-party admitted capacity in the Texas residential property insurance market. The company provides insurance carriers with a range of services including product design, pricing, underwriting, policy issuance, policy administration, billing, premium finance, and claims adjusting and administration. Wellington Insurance Group was founded in 1988 and is based in Fort Worth, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 KV National Land

New York, New York, United States

KV National Land is a full‐service national title insurance and settlement agency. The Company provides commercial and residential title insurance, settlement, escrow, and 1031 exchange services. KV National Land was founded in 2008 and is based in New York City.

Buy -

Seller(S) 1

SELLER

RedBird Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

RedBird Capital Partners is a private equity firm focused on investing in growth-oriented companies in the business services, financial services, sports/leisure/hospitality, and media/entertainment sectors. RedBird will consider opportunities throughout North America and has a particular interest in businesses at an inflection point with proven business models, strong management, and little debt. RedBird Capital Partners was formed in 2014 and is based in New York, New York.

DEAL STATS #
Overall 4 of 9
Sector (Insurance) 2 of 2
Type (Add-on Acquisition) 4 of 6
State (New York) 3 of 3
Country (United States) 4 of 9
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Fenway Sports Group

Boston, Massachusetts, United States

Fenway Sports Group is a sport, media, and real estate holding company. Fenway Sports Group was founded in 2001 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-24 Rajasthan Royals

Mumbai, India

Rajasthan Royals is a cricket team in the Indian Premier League from the city of Jaipur. Rajasthan Royals was formed in 2008 and is based in Mumbai, India.

Buy -
Mergr

Product

Company

Legal