Private Equity Firm Kelso Invests in ReSource Pro, Takes Majority Interest

December 21, 2021

Private equity firm Kelso & Co. has completed an investment in property/casualty insurance processing and services firm ReSource Pro, taking a majority interest in the company, the firms have reported.

Terms of the private transaction were not disclosed.

ReSource Pro said the deal will enable the company to continue its long-term growth strategy and expand its global operations.

ReSource Pro will maintain its management team.

“ReSource Pro is highly differentiated in its market, which is a testament to the company’s unique value proposition and deep understanding of the insurance industry,” said Chris Collins, managing director of Kelso.

DFW Capital Partners had been the company’s majority owner since 2018.

New York-based ReSource Pro has service operations across the U.S., China and India. The company was founded in 2003 and has grown to have more than 5,000 employees.

“With Kelso’s support we are committed to expanding our best in class services, solutions and innovation to agents, brokers and carriers,” said Dan Epstein, CEO of ReSource Pro.

The deal comes at the end of a year of acquisitions by ReSource Pro.

In September, ReSource Pro acquired Insurance Licensing Services of America (ILSA), a Texas-based firm that provides regulatory and compliance services to insurance organizations and professionals.

ReSource Pro also acquired two strategic advisory and management consulting firms focused on property/casualty insurance, Strategy Meets Action (SMA) and The Nolan Company (Nolan). These transactions were completed on Jan. 1, 2021. By acquiring these two firms, ReSource Pro said it is “building on its strategy to deliver business transformation services and operational solutions to insurance organizations.”

Also over the past year, ReSource Pro added a new Growth Solutions group focused on helping insurance agencies and their producers, as well as carriers, drive organic growth. The group offerings include efficiency services and sales training.

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