Abry Partners has agreed to acquire Lake Forest, Calif.-based Portfolio Holding Inc. from Capital Z Partners LP.
The deal is subject to normal and customary closing conditions. Terms were not disclosed. All of Portfolio’s current management team will remain in their roles leading the firm and will retain significant equity ownership.
Portfolio, which has operations in Dallas, Texas, is a provider of finance and insurance products and services to automotive dealers across the country. Its specialty is managing affiliated reinsurance companies for dealership owners.
Abry is a sector-focused private equity investment firm that manages more than $5 billion of capital across its active funds.
Capital Z is a global private equity firm focused exclusively on the financial services industry.
Topics Mergers & Acquisitions California
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