TPG Capital has completed the acquisition of Vertafore, a provider of software and services to the insurance industry. The deal was first announced on June 10, 2010. TPG purchased the company from Hellman & Friedman and its co-investor JMI Equity for a total consideration of $1.4 billion.
The acquisition was funded with a combination of investor capital and financing arranged through Credit Suisse, Bank of America Merrill Lynch, Barclays Capital and RBC Capital Markets.
Vertafore is a provider of software and information to the insurance distribution channel including independent agents, brokers, managing general agents, carriers and reinsurers.
TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with approximately $48 billion of assets under management and offices in San Francisco, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Shanghai, Singapore and Tokyo.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Who Gets Credit for Successful Renewal During Soft Reinsurance Market? 
Former Insurance Agent Sentenced to Jail for Fraud, Again 
Company at Center of Cyclospora Outbreak Complained to White House, Source Says 
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
