Flexpoint Ford, a private equity firm focused on financial services, has made an investment in Pacific Northwest-based Propel Insurance.
Terms of the deal weren’t disclosed.
Following the investment by Flexpoint, Propel Insurance’s current shareholders will retain a significant ownership, according to an announcement from both firms.
The new partnership will build on Propel’s organic growth and provide funding for the firm’s ongoing geographic expansion program.
Waller Helms Advisors acted as financial advisor to Propel Insurance and Harlowe & Falk LLP acted as legal counsel in connection with the transaction. SunTrust Robinson Humphrey acted as financial advisor to Flexpoint Ford and Kirkland & Ellis LLP acted as legal counsel in connection with the transaction.
Propel Insurance, which has six offices throughout Washington and Oregon, is a privately owned insurance agency that provides property/casualty, risk management, workers’ comp, employee benefits, personal insurance and other products across.
Flexpoint Ford is a private equity investment firm that has raised more than $2.3 billion in capital and specializes in privately negotiated investments in the financial services and healthcare industries.
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