Southport Lane, a New York City-based private equity firm, has completed its acquisition of Louisiana-based Imperial Management Corp., along with its largest subsidiary, Imperial Fire & Casualty, in an all-cash transaction. Additional terms of the transaction were not disclosed.
Imperial Fire & Casualty provides insurance products such as personal auto, commercial auto, personal property and flood policies.
Imperial Fire & Casualty has been led by H. Marcus Carter, Jr., president and CEO, and John Emmett Brignac Jr. (JE), chairman of Imperial Management Corp., both of whom will continue to serve as directors.
Imperial Fire & Casualty has 1,500 independent agents representing its insurance products. It actively writes policies in Arkansas, Florida, Louisiana, Oklahoma and Texas, and is licensed in Alabama, Georgia, Indiana, Kansas, Kentucky, Mississippi, Missouri, Nevada, South Carolina, and West Virginia. Imperial Fire & Casualty has offices in Florida, Louisiana and Texas.
The Imperial Fire & Casualty deal follows the acquisition of Dallas National Insurance Co., a Delaware-based property and casualty insurer specializing in general liability and workers’ compensation.
Source: Southport Lane
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