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December 5, 2023
PARK SUTTON ADVISES PARAGON WEALTH STRATEGIES, A TOP FLORIDA RIA
Park Sutton Advisors, a Waller Helms Company is pleased to have represented Paragon Wealth Strategies, LLC on its acquisition by Mercer Global Advisors Inc., a leading RIA with $52 billion of AUM and headquartered in Denver, Colorado. Co-founded in 2008 by Jon Castle and Michelle Ash, PWS is a fee-only, independent RIA based in Jacksonville, Florida, with approximately $500 million of AUM.
November 16, 2023
WHA MARKET INSIGHTS: MINORITY INVESTMENTS CAN HELP FUEL GROWTH AND PRESERVE INDEPENDENCE
In this quarter’s piece, we address the factors driving minority investments in retail insurance distribution. Management teams and shareholders value the opportunity to address liquidity pressures, accelerate growth and add complementary expertise, all while remaining majority employee owned. Minority investments can also bolster a company’s prospects for long-term independence in a market where scale is increasingly important. For private equity, minority investments expand the investable universe in a coveted sector and M&A strategies create the potential for follow-on investments. The modern insurance broker is more than just retail – your financial advisor should be too!
November 13, 2023
NAVIGATE WELLBEING SOLUTIONS COMPLETES NEW PARTNERSHIP WITH MCCARTHY CAPITAL
Navigate Wellbeing Solutions, a well-tech company that has transformed how organizations improve their employees' wellbeing and engagement, announced that Navigate has partnered with McCarthy Capital to accelerate its growth. Terms of the transaction were not disclosed.
November 9, 2023
SIMPLICITY GROUP AND PASSERELLE PARTNERS JOIN FORCES
Simplicity Group Holdings, Inc., a leading financial products distribution firm, today announces a partnership with Passerelle Partners, a boutique insurance advisory firm, to build out its ultra-high net worth offering. Fernando Pou, Victoria Mayer, and Chris Daniels, founders of Passerelle, become Simplicity's newest partners.
November 9, 2023
FARMERS GROUP, INC. TO ACQUIRE THREE BROKERAGE ENTITIES AND THE FLOOD PROGRAM SERVICING ARM FROM THE FARMERS EXCHANGES
Farmers Group, Inc., a wholly-owned subsidiary of Zurich, has agreed to acquire three brokerage entities, as well as the flood program servicing arm of the Farmers Exchanges, for USD 760 million.
November 7, 2023
DOXA INSURANCE HOLDINGS ANNOUNCES ACQUISITION BY GOLDMAN SACHS ASSET MANAGEMENT
DOXA Insurance Holdings, one of the fastest growing niche underwriting and distribution companies in North America, announces it has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management.
October 31, 2023
THE MCGOWAN COMPANIES ACQUIRES PROTEXURE INSURANCE
The McGowan Companies, a leading provider of diversified, specialty insurance programs and wholesale brokerage services, has completed the acquisition of Protexure Insurance Agency, a tech-enabled professional liability MGA. The acquisition adds specialized underwriting expertise to McGowan’s national portfolio of insurance programs.
October 24, 2023
PARK SUTTON ADVISES PRIVATE CAPITAL MANAGEMENT IN BAY-AREA RIA DEAL
Park Sutton Advisors, a Waller Helms Company is pleased to have represented Private Capital Management, Inc. on its sale to Beacon Pointe Advisors, LLC, a leading Registered Investment Advisor with $30 billion of assets under management and headquartered in Newport Beach, California. Based in Larkspur, California, PCM is a planning-focused firm with a track record of growth.
October 23, 2023
Pritzker Private Capital Completes Investment in Lawley
Pritzker Private Capital (“PPC”), a leader in family direct investing, today announced it has completed an investment in Lawley, an independent insurance broker and employee benefits firm. PPC’s investment will support Lawley in expanding into new markets and scaling its service offering for customers. Lawley’s current owners and management team, including Principals Bill Lawley, Jr., Chris Ross, and Michael Lawley, and other Lawley partners, will remain the majority owners and continue to lead the business. Terms of the transaction were not disclosed.
October 5, 2023
S&S HEALTH RECEIVES GROWTH INVESTMENT FROM LOVELL MINNICK PARTNERS
S&S Health, one of the leading providers of administration and technology solutions to self-insured employers, TPAs, and health plans, announced that it has received a majority investment from Lovell Minnick Partners to support its next chapter of growth. Terms of the transaction were not disclosed.
September 13, 2023
SUNSHINE LIFE & HEALTH ADVISORS COMPLETES PARTNERSHIP WITH ALLIANT INSURANCE SERVICES
Alliant Insurance Services has partnered with Sunshine Life & Health Advisors, a Florida-based health insurance firm focused on helping members of the Hispanic community understand and enroll in Affordable Care Act (ACA) health plans. Sunshine Life & Health Advisors serves clients in Florida and Texas as well as various Hispanic communities throughout the United States. The move expands Alliant’s direct-to-consumer capabilities and strengthens its Employee Benefits Group.
August 29, 2023
PARK SUTTON ADVISES FINANCIAL SOLUTIONS, A LEADING WISCONSIN RIA
Financial Solutions, LLC has been acquired by Pensionmark Financial Group, LLC, a leading RIA with $76 billion of supported assets. Pensionmark’s parent company is World Insurance Associates, LLC which is headquartered in New Jersey. FS is headquartered in Waukesha, Wisconsin, and has approximately $1.1 billion in assets under management / administration. Terms of the transaction were not disclosed.
August 11, 2023
PARK SUTTON REPRESENTS WOMEN-LED BELL ROCK CAPITAL ON SALE TO BRYN MAWR CAPITAL MANAGEMENT
Park Sutton Advisors, a Waller Helms Company, is pleased to have represented Bell Rock Capital on its sale to Bryn Mawr Capital Management, a registered investment adviser subsidiary of WSFS Financial Corporation. Terms of the transaction were not disclosed.
August 3, 2023
TEAM ONE AND SOUTHWEST ADJUSTERS COMPLETE MERGER BACKED BY LONGSHORE CAPITAL PARTNERS
Team One Adjusting Services, a provider of claims adjusting and claims management services, and Southwest Adjusters, a multi-line independent insurance adjustment agency, announced their merger to form the joint venture, Team One Insurance Services. Terms of the transaction were not disclosed.
July 12, 2023
PRIME CAPITAL INVESTMENT ADVISORS FORGES STRATEGIC PARTNERSHIP WITH ABRY PARTNERS
Prime Capital Investment Advisors proudly announces a new strategic partnership with Abry Partners, an established private equity firm with a 30-year track record of success in fueling business growth. Terms of the transaction were not disclosed.
July 11, 2023
WHA ADVISES HEALTHCARE SUBROGATION GROUP ON ITS SALE TO CARELON INSIGHTS, AN AFFILIATE OF ELEVANCE HEALTH
Waller Helms Advisors is pleased to have represented Healthcare Subrogation Group, LLC on its sale to Carelon Insights, Inc., an affiliate of Elevance Health, Inc. Terms of the transaction were not disclosed.
July 5, 2023
DAY & ENNIS, LLC HAS BEEN ACQUIRED BY MERCER ADVISORS
Day & Ennis, LLC has been acquired by Mercer Global Advisors, Inc., a national Registered Investment Adviser headquartered in Denver, Colorado with over $47 billion in assets under management. Founded in 1998 by John R. Day, CPA, PFS, and later joined by Partners William W. Ennis, CPA, PFS and Matthew E. Heller, CFP®, MBA, D&E is a fee-only, independent RIA headquartered in Macon, Georgia. D&E has an exceptionally strong cadre of professionals serving approximately 250 clients with AUM of approximately $400 million. Terms of the transaction were not disclosed.
July 5, 2023
AJ WEALTH HAS MERGED WITH CERITY PARTNERS
AJ Wealth has merged with Cerity Partners, a leading registered investment adviser ("RIA") with over $65 billion in assets under management (“AUM”) and headquartered in New York, NY. Founded in 2012 by Andrew Cooper and Justyn Volesko, AJ is a prominent multi-family office servicing ultra-high-net-worth (UHNW) individuals with significant expertise working with partners and founders of hedge funds, private equity and venture capital firms, business owners, and C-suite executives. The combination adds more than 40 employees to the Cerity Partners team and a unique area of expertise in complex estate and tax planning issues for clients with carried interests in their firm’s investment funds.
June 16, 2023
WHA MARKET INSIGHTS: INSURANCE + WEALTH IS A WINNING COMBINATION
The modern insurance broker is more than just retail P&C – your financial advisor should be too! In this quarter’s piece, we highlight the convergence of traditional insurance, retirement and wealth services and the different strategies to offer these complementary capabilities. The competition for wealth and retirement services is fierce as RIA / wealth platforms, third-party capital and, increasingly, insurance brokers seek to add or expand their capabilities. As the leading advisor to the wealth and insurance services sectors, Waller Helms Advisors has significant insights into market trends and winning strategies.
June 12, 2023
WELLWORKS FOR YOU COMPLETES NEW PARTNERSHIP WITH RIVERGLADE
RiverGlade Capital, a healthcare-focused private equity firm, has formed a new partnership with Wellworks For You, a leading technology-enabled provider of comprehensive wellness and population health management services to employers, health systems, health plans and resellers. Terms of the transaction were not disclosed.
June 8, 2023
PARK SUTTON ADVISES ACG ON ITS SALE TO WEALTHSPIRE
Actuarial Consulting Group, Inc. and Actuarial Consulting Group Advisory Services, Inc. has been acquired by Wealthspire Advisors, LLC, a leading Registered Investment Adviser with $19.1 billion in assets under management and advisement. ACG is headquartered in Richmond, VA, and has approximately $1 billion in AUM/A. Terms of the transaction were not disclosed.
June 1, 2023
OMEGA WEALTH PARTNERS HAS BEEN ACQUIRED BY CAPTRUST
Omega Wealth Partners has sold to CAPTRUST Financial Advisors, a leading registered investment adviser with over $714 billion in Assets Under Management and Advisement and headquartered in Raleigh, NC. Founded in 1973 and headquartered in Fort Worth, TX, Omega is a wealth management firm specializing in multi-generational planning with $710 million in AUM. The Firm was established by Joe Hardgrove and today is co-led by Tom Hardgrove, John Dickens, and Tammy Bryant. Under their leadership, Omega has expanded to 9 team members and has become the third-largest independent RIA headquartered in Fort Worth. Terms of the transaction were not disclosed.
June 1, 2023
BRECKENRIDGE IS, INC. ANNOUNCES SALE OF INSURANCE SERVICES DIVISION TO ACCRETIVE INSURANCE SOLUTIONS, INC.
Breckenridge IS, Inc., a diversified insurance distribution and services firm and wholly owned subsidiary of W.R. Berkley Corporation, today announced the sale of its Insurance Services Division to Accretive Insurance Solutions, Inc. Terms of the transaction were not disclosed.
May 31, 2023
ENCOVA LIFE INSURANCE COMPANY TO BE ACQUIRED BY PAN-AMERICAN LIFE INSURANCE COMPANY
Encova Mutual Insurance Group and Pan-American Life Insurance Company announced that Encova Life Insurance Company, an affiliate of Encova Insurance, will be acquired by and merged into PALIC. Terms of the transaction were not disclosed.
May 16, 2023
FLEXPOINT FORD MAKES EQUITY INVESTMENT IN SAGESURE TO SUPPORT CONTINUED GROWTH
SageSure, one of the largest MGUs focused on cat-exposed property insurance, announced the close of a $250 million equity investment led by Amwins and Flexpoint Ford (“Flexpoint”). The investment will in part position SageSure to continue its growth as the organization surpasses $1 billion of inforce premium. Terms of the transaction were not disclosed.
May 2, 2023
WEALTHTECH MARKET UPDATE SPRING 2023
Waller Helms Advisors is pleased to present its Spring 2023 WealthTech Market Update. The publication covers recent industry trends, notable transactions and select companies driving innovation. We also share our key takeaways from the 2023 Technology Tools for Today (T3) conference where we connected with several companies, experts, and investors. The wealth management industry is undergoing major disruption. Some of the trends include wirehouse advisors flight to independence; demographic shift of wealth; and rising client expectations of advisors. Technology is fueling this disruption and is redefining the advisor-client relationship. Clients demand holistic advice, greater personalization, and proactive and meaningful engagement. Digital transformation provides exciting opportunities for wealth managers to unlock client-centricity, strengthen operations, increase productivity, and address regulations and cybersecurity threats.
May 1, 2023
PARSEC FINANCIAL HAS MERGED WITH MODERA WEALTH MANAGEMENT
Parsec Financial has merged with Modera Wealth Management, a fee-only registered investment adviser headquartered in Westwood, NJ. Founded in 1980 and headquartered in Asheville, NC, Parsec is a fee-only full-service wealth management firm with six offices in North Carolina and $3.75 billion in AUM. The combination creates one of the largest independent wealth management firms on the East Coast, with over $10.5 billion of AUM and over 180 employees across 14 offices between Massachusetts and Florida. Terms of the transaction were not disclosed.
April 24, 2023
QA WEALTH MANAGEMENT WAS ACQUIRED BY CAPTRUST
QA Wealth Management (“QA”) has been acquired by CAPTRUST, a leading registered investment adviser (“RIA”) with over $900 billion in Assets Under Management and Advisement (“AUM/A”) and headquartered in Raleigh, NC. Headquartered in the Minneapolis Area, QA specializes in working with Big Four professionals, providing them with financial advice, planning, and investment management. QA was founded in 2000 by John Wing. It is today led by CEO Dan Westin with $770 million in Assets Under Management and additional $1.2 billion under Advisement. Terms of the Transaction were not disclosed.
April 13, 2023
DAVIES GROUP ACQUIRES AFIRM SOLUTIONS
Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets, today announced that it has acquired Afirm Solutions (“Afirm”), the specialist provider of premium audit, loss control inspection and risk mitigation services for insurance carriers, insurance distribution platforms, and third-party administrators (TPAs). Headquartered in Fort Collins, Colorado, U.S., Afirm is a nationwide full-service provider of premium audit and loss control inspection services across personal & commercial lines of insurance throughout all 50 U.S. states & parts of Canada. Prior to this transaction, Afirm was a wholly owned subsidiary of Kaufman Financial Group, a global network of companies dedicated to shaping the insurance industry. The Kaufman Group’s flagship brand is Burns & Wilcox, an industry-leading provider of specialty insurance solutions with over $2 billion in annual premium. Terms of the transaction were not disclosed.
March 23, 2023
HERON WEALTH HAS BEEN ACQUIRED BY WEALTHSPIRE
Park Sutton Advisors, a Waller Helms Company is pleased to have represented Heron Financial Group, LLC on its acquisition by Wealthspire Advisors, LLC, a leading Registered Investment Adviser with $19 billion in assets under management and advisement. Heron is based in New York, NY.
March 10, 2023
MONROE VOS HAS BEEN ACQUIRED BY CAPTRUST
Park Sutton Advisors, a Waller Helms Company is pleased to have represented Monroe Vos Consulting on its acquisition by CAPTRUST, a leading registered investment adviser headquartered in Raleigh, NC, with over $125 billion in assets under management with an additional $775B under advisement. Headquartered in Houston, TX, Monroe Vos provides advisory and wealth management services to high-net-worth individuals, family offices, retirement plans, endowments, and foundations. Monroe Vos currently manages over $5.8 billion of AUA. Terms of the transaction were not disclosed.
March 9, 2023
CORNERSTONE WEALTH MANAGEMENT IS ACQUIRED BY PRIME CAPITAL INVESTMENT ADVISORS
Park Sutton Advisors, a Waller Helms Company is pleased to have represented Cornerstone Comprehensive Wealth Management on its acquisition by Prime Capital Investment Advisors, a leading registered investment adviser with over $23 billion in assets under management and advisement and headquartered in Overland Park, KS. With approximately $400 million in assets, Cornerstone is among the largest RIAs in Reno and brings decades of experience providing premium, high-touch client services to individuals & families. Terms of the transaction were not disclosed.
March 8, 2023
TELARRAY WAS ACQUIRED BY CREATIVE PLANNING
Park Sutton Advisors, a Waller Helms Company is pleased to have represented Telarray, LLC on its acquisition by Creative Planning, LLC, a leading registered investment adviser, headquartered in Overland Park, KS, with over $200 billion in assets under management and advisement (“AUM/A”). Headquartered in Memphis, TN, Telarray is a financial planning and investment management firm with $1 billion in client assets. The Firm was founded in 2005 and has since grown to a team of 18 individuals. Terms of the transaction were not disclosed.
March 1, 2023
ALACRITY SOLUTIONS ACQUIRES SPARTAN RECOVERIES
Alacrity Solutions Group, LLC (“Alacrity Solutions”), a recognized leader in providing insurance claims management services in North America, today announced the acquisition of Spartan Recoveries LLC (“Spartan”). Founded in 2010, Spartan is a leading, tech-enabled provider of independent subrogation solutions to the property and casualty industry. The company’s tools and strategies enable the review of large quantities of data to quickly determine where recovery opportunities exist and lead to shorter recovery cycle-times, reduced expenses and a significant increase in net recoveries for clients.
February 28, 2023
ELITE CONSTRUCTION SOLUTIONS CONTINUES ITS GROWTH WITH THE ACQUISITION OF TWO RESTORATION CONTRACTING FIRMS
Elite Construction Solutions (ECS), an integrity-driven contractor, specializing in storm restoration and mitigation, recently acquired Universal Roofing & Exteriors and Jackson Contracting. The acquisition immediately expands ECS’s footprint into the Indiana market where it will offer best-in-class exterior general contracting services. This acquisition also allows Universal and Jackson to fully leverage ECS’s suite of shared services including its storm restoration training, estimating services, proprietary technology, data analytics and back-office resources.
February 27, 2023
STRATEGIC RISK SOLUTIONS ANNOUNCES PARTNERSHIP WITH INVESTMENT FIRM INTEGRUM
Strategic Risk Solutions (“SRS”; “the Company”), the world’s largest independent insurance company manager, today announced that it has partnered with Integrum Holdings LP (“Integrum”) to further enhance the Company’s services within the captive insurance and alternative risk markets. Integrum is an investment firm focused on partnering with technology-enabled services companies in the financial and business services sectors. Integrum’s investment will allow SRS to build on its foundation of independence, quality, and expertise to deepen its existing relationships, expand both geographically and in its service offerings, as well as more actively pursue strategic acquisitions and partnerships.
February 2, 2023
LMP SUPPORTS DEFINITI'S NEXT CHAPTER OF GROWTH WITH NEW MAJORITY INVESTMENT
Lovell Minnick Partners, a private equity firm with a 20+ year track record of partnering with growth-oriented companies, today announced the signing of a definitive agreement to acquire a majority stake in Definiti LLC to support its next chapter of growth. Definiti is a national retirement services firm that supports more than 8,000 workplace organizations and 10,000 retirement plans across the US. This investment will enable Definiti to accelerate investments in client service, technology, innovation, and talent. LMP supports Definiti’s plans to advance its client offerings and organic growth initiatives while continuing its highly successful acquisition strategy. Terms of the deal were not disclosed.
February 2, 2023
ALACRITY SOLUTIONS ANNOUNCES STRATEGIC INVESTMENT FROM BLACKROCK ALTERNATIVES’ LONG TERM PRIVATE CAPITAL
Alacrity Solutions Group, LLC, a recognized leader in providing insurance claims management services in North America, today announced that BlackRock Alternatives, through its Long Term Private Capital strategy, has acquired a majority interest in the Company. Alacrity’s incumbent majority investor, Kohlberg & Company, and management will retain a significant minority interest in the Company. Terms of the transaction were not disclosed.
January 26, 2023
REYNOLDS AND REYNOLDS ACQUIRES GUARDIAN WARRANTY SERVICES, INC.
The Reynolds and Reynolds Company announced the acquisition of American Guardian Warranty Services, a premier provider of vehicle service contracts, limited warranties, and other F&I products and services. The acquisition will provide a clear path for dealers looking to streamline selling aftermarket products no matter where the customer is – online, in-store, or a combination of the two.
January 10, 2023
PICWELL, INC WAS ACQUIRED BY JELLYVISION
Jellyvision, the company behind ALEX®, the leading employee benefits engagement technology, announced it has acquired Picwell, a healthcare technology company focused on AI-generated benefits decision support. Together, the two SaaS companies will offer a first-of-its-kind benefits experience for employees, leveraging behavioral science and predictive analytics to deliver highly personalized benefits recommendations and ongoing engagement. Terms of the transaction were not disclosed.
January 5, 2023
CAC SPECIALTY AND COBBS ALLEN MERGE IN TRANSFORMATIVE COMBINATION
CAC Specialty, an industry-leading specialty broker, and Cobbs Allen, a P&C and employee benefits broker with a 135-year history, have completed a merger. The transaction brings together two highly complementary, top-100 brokers and creates a fully integrated specialty platform capable of serving a broad array of clients. The combined company will remain employee-owned.
January 4, 2023
STONNINGTON GROUP HAS BEEN ACQUIRED BY PRIME CAPITAL INVESTMENT ADVISORS
Prime Capital Investment Advisors, has announced its acquisition of Pasadena-based registered investment advisor Stonnington Group. The acquisition expands PCIA’s presence in Southern California and adds $575 million in assets under management. Stonnington Group brings decades of experience servicing high-net-worth individuals and families to PCIA, led by Nick Stonnington, President and Advisor. Nick is joined by 4 additional employees, including one additional advisor, that will continue to serve their 275 clients in partnership with PCIA.
December 29, 2022
PARK SUTTON ADVISES MARYLAND CAPITAL MANAGEMENT ON ITS PARTNERSHIP WITH CERITY PARTNERS
Maryland Capital Management, LLC has been acquired by Cerity Partners LLC, a leading registered investment adviser (“RIA”) headquartered in New York, NY, with over $65 billion in assets under management and advisement. Headquartered in Baltimore, MD, with a second office in Bonita Springs, FL, MCM is a wealth management, financial planning, and investment management firm with approximately $2.1 billion in assets spanning 42 states.
September 29, 2022
THE VISTRIA GROUP, CENTURY EQUITY PARTNERS AND FLORES & ASSOCIATES ANNOUNCE STRATEGIC PARTNERSHIP
The Vistria Group announced an investment in Flores & Associates LLC (Flores or the "company"), a leading provider of benefit technology solutions and administrative services to employers throughout the United States. As part of the transaction, Century Equity Partners and The Vistria Group will each hold equal ownership in the Company and continue to back the current management team, led by Gary Trainor and Jody Oliver.
September 19, 2022
CORSAIR CAPITAL MAKES SIGNIFICANT INVESTMENT TO SUPPORT MERGER OF MIRACLE MILE ADVISORS AND KARP CAPITAL
Miracle Mile Advisors and Karp Capital Management announced that they intend to combine, creating an award-winning, national wealth advisory firm with over $4 billion in assets under management serving clients from five main offices. In conjunction with the transaction, the combined company will receive a significant investment from Corsair Capital, a leading private equity firm in the financial and business services industries. The combination and subsequent Corsair investment is expected to be completed in November 2022, subject to customary closing conditions.
September 14, 2022
PATRA SECURES GROWTH EQUITY INVESTMENT FROM FTV CAPITAL
Patra Corporation, a leading technology-enabled services company for the insurance industry, today announced a growth investment as part of a recapitalization from FTV Capital, a sector-focused growth equity firm with nearly 25 years of experience investing in technology-enabled services. This funding will drive additional growth through market expansion and accelerate the deployment of technologies that drive automation and digitization of policy and administrative services Patra delivers to their clients.
September 9, 2022
DAVIES GROUP ACQUIRES JOHNS EASTERN COMPANY, INC.
Davies Group, the leading specialist professional services and technology business serving insurance and highly regulated markets, has announced the acquisition of Johns Eastern Company, Inc., a leading Third Party Administration (TPA) and independent adjusting firm based in Sarasota, Florida.
August 25, 2022
ELITE CONSTRUCTION SOLUTIONS CONTINUES ITS GROWTH WITH ACQUISITION OF PROPERTY RESTORATION PLATFORM 123 EXTERIORS
Elite Construction Solutions (ECS), the leading provider of educational, business improvement and direct contracting solutions in the contracting space, has acquired 123 Exteriors. Founded in 2006, 123 Exteriors serves eight markets in seven different states and is widely recognized as one of the largest and most professional companies in the storm restoration industry. The acquisition of 123 Exteriors enhances ECS’s partner contractor strategy which is core to its broader vision of unifying contractors and insurance carriers in support of homeowners in need.
August 8, 2022
TRUIST INSURANCE HOLDINGS ENHANCES CLIENT OFFERINGS WITH ACQUISITION OF BENEFITMALL FROM CARLYLE
Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation (NYSE: TFC) and the sixth-largest insurance brokerage in the U.S., announced today that it has signed a definitive agreement to acquire BenefitMall, the nation’s largest benefits wholesale general agency, from funds managed by global investment firm Carlyle (NASDAQ: CG). The transaction will add approximately $150 million of annual revenue to Truist Insurance Holdings’ wholesale division. Financial terms were not disclosed. The transaction is expected to close in the third quarter of 2022, subject to satisfaction of customary closing conditions.
August 8, 2022
ASSURED RELOCATION ACQUIRED BY CRS TEMPORARY HOUSING
Assured Relocation (“Assured”) has been acquired by CRS Temporary Housing (“CRS”), a national temporary housing company that provides complementary services for short and long-term housing stays. CRS is a portfolio company of Reverence Capital. The acquisition will add significant scale and will position the combined entity as the largest standalone temporary housing company in the industry.
July 21, 2022
WHA HEALTHCARE QUARTERLY SECTOR UPDATE
The Waller Helms healthcare team is pleased to share with you our Q2 2022 “WHA Healthcare Quarterly Sector Update.” Every quarter we cover some of the most interesting and sector shifting deals that we’re seeing in the market and identify the emerging trends that executives and investors should be aware of. With digital health deals cooling in 2022, this quarter we identified a few sectors which are still attracting heated deal activity.
June 23, 2022
U.S. FORENSIC WAS ACQUIRED BY APPLIED TECHNICAL SERVICES
U.S. Forensic, a national provider of evaluation, reporting, and expert witness testimony forensic services, has been acquired by Applied Technical Services (“ATS”), a technologically advanced testing and inspection firm with extensive consulting and engineering capabilities. The transaction combines U.S. Forensic’s licensed fact-finding experience and extensive pool of engineering resources with ATS’s advanced lab capabilities and testing services.
June 22, 2022
ALACRITY SOLUTIONS GREATLY EXPANDS SUITE OF SERVICES WITH ACQUISITION OF PROPERTY DAMAGE APPRAISERS, INC.
Alacrity Solutions Group, LLC (“Alacrity Solutions”), a recognized leader in providing insurance claims management services in North America, today announced the acquisition of Property Damage Appraisers (“PDA”). Financial terms of the transaction were not disclosed.
June 17, 2022
TMK ANNOUNCES SALE OF TOKIO MARINE HIGHLAND'S US CONSTRUCTION MGA TO INTACT INSURANCE GROUP
Tokio Marine Kiln (TMK) announced that a definitive agreement has been signed with Intact Insurance Group (Intact) for the sale of Tokio Marine Highland’s (TMH) US construction division. The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2022.
May 31, 2022
VENSURE EMPLOYER SERVICES STRENGTHENS MIDWEST PRESENCE WITH ACQUISITION OF EMPOWER HR
EmPower HR, a leading provider of professional employer organization (“PEO”) and HR services to employers, has been acquired by Vensure Employer Services (“Vensure”), the largest privately-held PEO in the United States.
May 25, 2022
WALLER HELMS ADVISORS TO ACQUIRE PARK SUTTON ADVISORS
Waller Helms Advisors has agreed to acquire Park Sutton Advisors LLC (“PSA”), the leading investment bank focused on M&A advisory for the wealth and investment management sector.
April 24, 2022
JOHNSON & JOHNSON ACQUIRES SELECT WHOLESALE AND MGU DIVISION OF MIDLANDS MANAGEMENT CORPORATION
Johnson & Johnson will expand its footprint into Texas and Oklahoma by acquiring the assets of the Wholesale Brokerage & Binding and Managing General Underwriting units of Midlands Management Corporation.
April 13, 2022
WHA QUARTERLY HEALTHCARE SECTOR UPDATE & VERTICAL DEEP DIVE
The Waller Helms healthcare team is pleased to share with you our Q1 2022 “WHA Healthcare Quarterly Sector Update & Vertical Deep Dive.” Every quarter we cover some of the most interesting and sector shifting deals that we’re seeing in the market and identify the emerging trends that executives and investors should be aware of. To better inform readers, we also do a deep dive on a vertical that is seeing increased activity for M&A and within the investor community.
April 6, 2022
THE MATHER GROUP, A LEADING WEALTH MANAGEMENT PLATFORM, HAS BEEN RECAPITALIZED BY THE VISTRIA GROUP
The Mather Group, LLC (TMG) announced it recieved a significant strategic investment from The Vistria Group, a Chicago-based next generation middle market private equity firm focused on financial services, healthcare and education.
February 1, 2022
TRIVE CAPITAL PARTNERS WITH ALLCAT CLAIMS SERVICE
Trive Capital (“Trive”), the Dallas-based private equity firm, recently completed an investment in Allcat Claims Service (“Allcat”).
January 27, 2022
WALLER HELMS ADVISORS HAS RECORD YEAR IN 2021 WITH 25 ANNOUNCED TRANSACTIONS REPRESENTING AGGREGATE DEAL VALUE OF $7.5B+
8 Transactions Announced Since December 1st, Including 3 in 2022
January 25, 2022
LION STREET, A LEADING INSURANCE DISTRIBUTION AND WEALTH MANAGEMENT PLATFORM, HAS BEEN ACQUIRED BY INTEGRITY MARKETING GROUP
Integrity Marketing Group, LLC (“Integrity”), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired Lion Street, an elite national network of agencies and professionals providing life insurance, wealth management and financial planning solutions to high-net-worth clients.
January 13, 2022
AMBA ANNOUNCES AGREEMENT WITH MARSH MCLENNAN TO ACQUIRE MERCER'S ASSOCIATIONS BUSINESS
Association Member Benefits Advisors (AMBA), a national affinity-based membership and marketing insurance agency, announced that it has reached an agreement to acquire Mercer's Associations business.
January 12, 2022
WHA QUARTERLY HEALTHCARE SECTOR UPDATE & VERTICAL DEEP DIVE
The Waller Helms healthcare team is pleased to share with you our Q4 2021 “WHA Healthcare Quarterly Sector Update & Vertical Deep Dive.” Every quarter we cover some of the most interesting and sector shifting deals that we’re seeing in the market and identify the emerging trends that executives and investors should be aware of. To better inform readers, we also do a deep dive on a vertical that is seeing increased activity for M&A and within the investor community.
January 11, 2022
MARSHBERRY SECURES GROWTH CAPITAL FROM ATLAST MERCHANT CAPITAL
Atlas Merchant Capital (“Atlas”), an investment firm focused on the financial services sector is pleased to announce its partnership with MarshBerry, an investment banking and consulting firm serving the Insurance Distribution and Wealth Management industries.
December 31, 2021
UNDERWRITERS SAFETY & CLAIMS WAS ACQUIRED BY CHARLES TAYLOR
Charles Taylor Strengthens Claims Solutions with Acquisition of Underwriters Safety & Claims, LLC., A Third-Party Administrator Based in Louisville, Kentucky
December 17, 2021
DONAN AND CCG IQ COMPLETE MERGER TO CREATE MARKET LEADER IN ANALYTICAL CLAIMS SERVICES FOR THE INSURANCE INDUSTRY
Donan, a forensic engineering and investigation firm dedicated to answering today’s property challenges and revolutionizing tomorrow’s property solutions, and CCG IQ, a provider of innovative solutions that enable better insurance underwriting and claims decisions, announced an agreement to combine, creating a leading platform for actionable intelligence across the insurance industry.
December 13, 2021
MERLINOS & ASSOCIATES, INC. WAS ACQUIRED BY DAVIES GROUP
Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets, today announced that it has signed a purchase agreement to acquire Merlinos & Associates Inc. (“Merlinos”), the Georgia, US based insurance-focused actuarial consulting business.
December 1, 2021
CROUSE AND ASSOCIATES WAS ACQUIRED BY RYAN SPECIALTY GROUP
Ryan Specialty Group (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance firm, today announced the acquisition of transportation specialist Crouse and Associates (“Crouse”).
November 1, 2021
GRANADA INSURANCE COMPANY AND GIC UNDERWRITERS HAVE BEEN ACQUIRED BY AN INVESTOR GROUP
Granada Insurance Company and GIC Underwriters (collectively, “Granada”) have been acquired by an investor group.
October 19, 2021
WHA QUARTERLY HEALTHCARE SECTOR UPDATE & VERTICAL DEEP DIVE
The Waller Helms healthcare team is pleased to introduce our new “WHA Healthcare Quarterly Sector Update & Vertical Deep Dive.” Every quarter we will be covering some of the most interesting and sector shifting deals that we’re seeing in the market and identifying the emerging trends that executives and investors should be aware of. To better inform readers, we will also do a deep dive on a vertical that is seeing increased activity for M&A and within the investor community.
October 13, 2021
VIMLY BENEFIT SOLUTIONS, A LEADING HRIS BENTECH SOFTWARE PLATFORM FOR ENROLLMENT AND BILLING, COMPLETES A GROWTH CAPITAL RAISE
Vimly Benefit Solutions (“Vimly”), one of the leading HRIS BenTech platforms that provides a digital quote-to-card experience for carriers, third-party administrators, general agents, brokers, employers, and employees, announces the closing of a growth equity financing round.
September 15, 2021
CUSTARD COMPANIES ACQUIRE SPECIALTY GROUP, INC.
Custard Companies, a nationally recognized claim solutions provider, announced the acquisition of Specialty Group, Inc. (SGI), a Florida based field adjusting, Special Investigations Unit (SIU) and Third Party Administration (TPA) claims company.
August 9, 2021
LEGACY RESTORATION RECEIVED A MAJORITY INVESTMENT FROM BESSEMER INVESTORS
Legacy Restoration , a leading provider of exterior restoration and remodeling services, and Bessemer Investors LLC, a New York-based investment firm, announced today that Bessemer has made a majority investment in Legacy.
July 12, 2021
LIBERTY MUTUAL INSURANCE BOLSTERS INDEPENDENT AGENT NETWORK WITH AGREEMENT TO ACQUIRE STATE AUTO GROUP
Liberty Mutual Holding Company Inc. and State Auto Financial Corporation announced that they have signed a definitive agreement pursuant to which Liberty Mutual would acquire State Auto Group, a super-regional insurance holding company headquartered in Columbus, Ohio.
June 30, 2021
INSURE HOMES INVESTS IN STRUCSURE HOME WARRANTY
Milestone Partners has announced that specialty insurance holding company, Insure Homes, received regulatory approval from the domestic regulator to complete its investment in StrucSure Home Warranty, LLC and its affiliated reinsurance and insurance service entities, Four Points Re SPC, LTD, Golden Insurance Company and SHW Insurance Services, Inc. (collectively “StrucSure”).
June 16, 2021
IAS CLAIM SERVICES HAS BEEN ACQUIRED BY THE DAVIES GROUP
Davies expands its property field adjusting and TPA solutions in North America through the acquisition of IAS Claim Services
June 8, 2021
TEAM FOCUS INSURANCE GROUP TO BE ACQUIRED BY PEAK6 INSURANCE OPERATIONS
The combined business will look to leverage its collective capabilities and industry expertise to drive rapid scale, both organically and through M&A.
April 20, 2021
DAMA FINANCIAL, THE LEADING PROVIDER OF ACCESS TO BANKING AND FINANCIAL SOLUTIONS FOR CANNABIS BUSINESSES, ANNOUNCES THE COMPLETION OF $12.6 MILLION GROWTH EQUITY RAISE
Dama will leverage the new round of investment to accelerate its already impressive growth, continue to address the lack of financial service products being offered to the cannabis industry, recruit top talent, and scale the business with the backing and support of its investors.
April 20, 2021
DAVID MORSE AND ASSOCIATES (DMA) WAS ACQUIRED BY VENBROOK GROUP, LLC
Venbrook Group, LLC (Venbrook), one of the largest independent insurance distribution and services firms in the U.S., announced today the acquisition David Morse & Associates (DMA). Since partnering with Parthenon Capital, a leading growth-oriented private equity firm, in 2020, the company has experienced a year of rapid growth.
April 16, 2021
LANCER INSURANCE COMPANY ANNOUNCES MERGER WITH CORE SPECIALTY
The combination joins two highly complementary businesses with a shared strategic vision to become the leading specialty P&C insurer.
April 15, 2021
RELIANCE STANDARD, A MEMBER OF THE TOKIO MARINE GROUP, AGREES TO ACQUIRE TOP-TIER NEW YORK STATUTORY INSURER STANDARD SECURITY LIFE INSURANCE COMPANY OF NEW YORK
This transaction will add scale and expertise to Reliance Standard and allow operations to scale both within New York as well as new markets.
April 7, 2021
MS AMLIN ACQUIRES INTERNATIONAL TRANSPORTATION & MARINE AGENCY
Launch of new strategy to target high growth US specialty MGA market.
April 6, 2021
AccuRisk Solutions LLC Joins The Ardonagh Group
AccuRisk Solutions announces that it has joined the Ardonagh Group and will operate within Ardonagh’s Global Partners Segment.
March 23, 2021
ENSUREM ACCEPTS STRATEGIC ACQUISITION BY PRIVATE INVESTMENT FIRM, 777 PARTNERS
This acquisition follows several years of significant growth at Ensurem.
March 16, 2021
BC PARTNERS INVESTS IN DAVIES TO SUPPORT GLOBAL EXPANSION AND DIGITAL TRANSFORMATION
This new partnership will diversify and strengthen Davies shareholder base, as it seeks to drive further global expansion, increase investment in technology and digital transformation, and to continue to partner with complementary businesses via M&A.
March 9, 2021
DAVIES ANNOUNCES EXPANSION OF US SPECIALIST CLAIMS TPA & ADJUSTING CAPABILITIES THROUGH THE ACQUISITION OF THE LITTLETON GROUP
Under the deal Littleton will join Davies’ rapidly growing US based Claims Solutions arm, adding significant scale to its existing Property & Casualty operations
March 5, 2021
GENSTAR CAPITAL COMPLETES SALE OF WORLDWIDE FACILITIES TO AMWINS GROUP
The acquisition strengthens Amwins' U.S. presence, as well as brokerage, underwriting and binding authority and group benefits divisions
February 11, 2021
ONE DIGITAL ACQUIRES HM EMPLOYEE BENEFITS AND RISK MANAGEMENT
The Acquisition Marks OneDigital’s First Expansion Into Property and Casualty
February 9, 2021
CNO FINANCIAL GROUP ACQUIRES DIRECTPATH, A NATIONAL PROVIDER OF TECHNOLOGY-DRIVEN EMPLOYEE BENEFITS MANAGEMENT SERVICES
Acquisition enhances Worksite Division growth outlook; Adds key solutions for both employers and employees.
February 1, 2021
ALACRITY SOLUTIONS ACQUIRES FOURSEVENTY CLAIM MANAGEMENT
Acquisition further expands Alacrity’s footprint in insurance claims management industry.
January 5, 2021
WALLER HELMS ADVISORS PROMOTES ANDREW COCHRAN & ALEX WEISS TO MANAGING DIRECTOR; MATTHEW BOTEK TO ASSOCIATE
Cochran and Weiss will also become Partners in the firm, reflecting their significant contributions and leadership within WHA’s insurance and healthcare practices, respectively.
December 31, 2020
HANCOCK CLAIMS CONSULTANTS ANNOUNCES A NEW CAPITAL INVESTMENT FROM CENTURY EQUITY PARTNERS
Hancock Claims Consultants Holdings, LLC (“Hancock”), a leading property and casualty inspection business, has entered into an agreement with Century Equity Partners pursuant to which Century becomes the new majority owner of Hancock.
December 30, 2020
GLOBAL RISK SOLUTIONS, INC. ACQUIRES TAILORED ADJUSTMENT SERVICES, INC.
Global Risk Solutions, Inc., a leading provider of diverse solutions for property and casualty claims, environmental risk management and complex claims, has acquired Tailored Adjustment Services Inc.
November 1, 2020
NEW MOUNTAIN CAPITAL COMPLETES MINORITY INVESTMENT IN IMA FINANCIAL GROUP
IMA Financial Group (“IMA” or “the Company”), a leading national insurance brokerage, has sold a minority stake to an experienced group of long-term investors. The syndicate was led by New Mountain Capital, a growth-oriented investment firm with $28 billion in assets under management.
October 16, 2020
LEE EQUITY PARTNERS TO ACQUIRE SIMPLICITY
Simplicity Group Holdings ("Simplicity"), a leading financial products distribution business, today announced that it has entered into an agreement with Lee Equity Partners ("Lee Equity") pursuant to which Lee Equity will become the new majority owner of the company.
October 8, 2020
ONEX TO MAKE A MAJORITY INVESTMENT IN ONEDIGITAL
Transaction Values OneDigital at $2.65 Billion
September 9, 2020
WALLER HELMS ADVISORS ADDS SENIOR FINANCIAL TECHNOLOGY AND HEALTHCARE INVESTMENT BANKERS
We are pleased to announce the recent additions of Alain Nono and Kari O'Brien to the WHA team.
September 1, 2020
SEDGWICK ACQUIRES NATIONWIDE APPRAISALS
Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, acquired Nationwide Appraisals, a premier auto damage appraiser and inspection provider for the insurance industry.
July 23, 2020
WALLER HELMS ADVISORS APPOINTS JAMES ANDERSON AS CHIEF EXECUTIVE OFFICER
Anderson Brings a Proven Track Record of Leading High-Performing Teams, Deep Industry Knowledge, and Strong M&A Expertise to the Growth-Oriented Firm.
April 2, 2020
HGGC ACQUIRES LEADING INSURANCE BROKER PCF INSURANCE
Management, employee owners, and existing investor BHMS Investments have retained minority investments.
March 2, 2020
COVERYS MAKES MAJORITY INVESTMENT IN HEALTHCARE RISK MANAGEMENT AND TECHNOLOGY PLATFORM ARCHWAY HEALTH
The partnership with Coverys provides Archway with additional resources to continue building its best-in-class bundled payment and value-based care platform, as well as expand its MGU and employer stop loss products.
February 1, 2020
PROASSURANCE CORPORATION ANNOUNCED THE SIGNING OF A DEFINITIVE AGREEMENT TO ACQUIRE NORCAL GROUP
The transaction, when completed, will result in the creation of the nation's third largest medical professional liability insurance carrier, based on 2019 estimated statutory data.
January 19, 2020
2019 MARKED A RECORD YEAR FOR WALLER HELMS ADVISORS AND THE MOMENTUM CONTINUES IN 2020
In 2019, WHA advised on a record 21 transactions representing more than $4 billion in aggregate value. In addition, WHA combined forces with StoneRidge Advisors in July and enters 2020 with 22 investment banking professionals focused on delivering excellent results for clients across our sectors.
