Affinion Group LLC, a subsidiary of Affinion Group Holdings Inc., has entered into a definitive purchase agreement to sell its insurance division, Affinion Insurance Solutions (AIS), to an affiliate of Mill Point Capital.
The sale is expected to close sometime in the third quarter of this year, subject to regulatory approvals and satisfaction of certain other conditions. This move is designed to support the company’s focus on loyalty and customer-engagement capabilities, according to an Affinion Group press release.
Affinion Group is a loyalty and customer engagement company based in Stamford, Conn. As a result of the sale, Affinion Group will operate as a company that uses its technology and data driven analytics to design, administer and fulfill loyalty and engagement programs that strengthen and expand the value of relationships for its clients around the globe.
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with executive partners to leverage its investment professionals’ experience, while providing strategic and operational guidance designed to drive long-term value creation in its portfolio companies. Mill Point is based in New York, N.Y.
Source: Affinion Group
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