William Blair acted as exclusive financial advisor to Insurance Technologies, LLC (Insurance Technologies), a portfolio company of NexPhase Capital, LP (NPC), an operationally focused private equity firm and sub-advisor to the Moelis Capital Partners (MCP) Opportunity Fund, in connection with its pending sale to Thomas H. Lee Partners, LP (THL). The transaction was announced on September 14, 2020, and is expected to close in the third or fourth quarter of 2020. This marks the 23nd insurance technology transaction that William Blair has advised on since 2017.
Transaction Highlights
- InsurTech expertise: Insurance Technologies and NexPhase Capital recognized William Blair's extensive domain expertise, buyer relationships, and track record of advising industry-leading InsurTech companies.
- Vertical-market positioning expertise: William Blair leveraged highly relevant market activity and momentum in the InsurTech sector to effectively focus potential acquirers on Insurance Technologies' market leadership, cloud-based technology platform, differentiated quotation and illustration capabilities, and impressive financial performance and trajectory.
- Leading M&A process capabilities: William Blair designed and executed an extremely targeted, customized, and accelerated process that generated significant competition from highly motivated buyers and culminated in an outstanding outcome for all shareholders.
About the Companies
Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industries. Offering a suite of integrated sales solutions, from pre-sale functions to illustrations and e-application to post-sale services, Insurance Technologies provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across all lines of insurance, retirement and investment products. The unique architecture and flexibility of its solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth, and evolve with regulatory changes.
Thomas H. Lee Partners, LP is a premier private equity firm investing in middle market growth companies, based primarily in North America, exclusively in four sectors: consumer, financial services, healthcare, and technology & business solutions. Since 1974, THL has raised more than $25 billion of equity capital, invested in over 150 companies and completed more than 400 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion.
NexPhase Capital, LP is a thematic and operationally-focused private equity firm that invests in lower middle market growth-oriented companies within three distinct sectors: consumer, healthcare, and software & services. . The firm has completed nearly 60 investments including add-ons and targets control equity investments between $25 million and $75 million.
Moelis Capital Partners LLC, a subsidiary of Moelis Asset Management LP, is a middle market private equity firm founded in 2007. MCP co-manages approximately $872 million of committed private equity capital with NexPhase Capital.
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