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Acrisure, Genstar complete $2.9bn management-led buyout

IBR Staff Writer Published 23 November 2016

Retail insurance brokerage Acrisure and private equity firm Genstar Capital have completed the earlier unveiled management-led buyout of the company in a transaction worth $2.9bn.

The deal was led by Acrisure CEO and co-founder Greg Williams and a consortium of minority investors.

Genstar acquired Acrisure in 2013 and worked with Williams and its management team to expand the company's geographic footprint and expand the size and scope of its insurance offerings. 

Under Genstar’s ownership, the company acquired 138 retail insurance brokerages and invested in new data and analytic tools.

Williams said: “As a result (of the buyout), management and agency partners now control the company, and our focus will continue to be on the long-term growth of our business. 

“We had a great partnership with Genstar, whose expertise helped transform Acrisure into a leading national insurance brokerage.”

Genstar president and managing director Ryan Clark said: “Genstar has built a strong and deep expertise within the insurance sector and we are very pleased with the outcome of this investment.

“It gives us great pride to have played a role in building Acrisure into an industry leader, particularly working in partnership with Greg Williams and his executive team.”

Based in Grand Rapids, Michigan, Acrisure has spread across 86 platform locations in 26 states while employing around 2,700 people in the US.

The company founded in 2005 by Greg Williams and Rick Norris provides risk management and consulting solutions that include property and casualty, human resource outsourcing, employee benefits, loss and claims management, personal lines coverage and surety bonding.

Acrisure’s ex-owner Genstar’s current and former investments in other insurance firms include Insurity, Innovative Aftermarket Systems, Financial Horizons Group, Confie Seguros and Palomar Specialty.


Image: Acrisure has completed a management-led buyout from Genstar Capital. Photo: courtesy of adamr and FreeDigitalPhotos.net.