Boston-based specialty insurance broker One80 Intermediaries announced that it acquired Cleveland, Ohio-based SelmanCo, a third-party administrator and broker offering life, supplemental health and related products and services to associations, credit unions, banks, employers and insurance companies.
Dowling Hales acted as the exclusive financial advisor to SelmanCo and Jones Day provided legal representation for the transaction. One80 Intermediaries was represented by Ropes & Gray. Terms of the deal were not disclosed.
SelmanCo has been in business for over 40 years and operates throughout the U.S. and Canada with headquarters in Cleveland, Ohio. The company has long-term partnerships with over 55 insurance companies and maintains $300 million of annual insurance premium under administration. SelmanCo provides insurance services to more than 1.3 million customers, and serves over 800 financial institutions, 2,100 employers and 70 affinity groups.
One80 Intermediaries is a privately held, national wholesaler with offices throughout the US and Canada.
Topics Mergers & Acquisitions Ohio
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