Genstar acquired Acrisure in 2013 and has worked with Mr. Williams and the Acrisure management team to expand Acrisure's geographic footprint and to broaden the size and scope of its insurance offerings. Under Genstar's ownership, the company successfully acquired 138 retail insurance brokerages and generated industry-leading organic growth. The company also invested in new data and analytic tools, and further strengthened the management team that allowed Acrisure to become one of the top 15 insurance brokers in the U.S. Annual revenues today exceed $670 million.
Ryan Clark, President and Managing Director at Genstar said, "Genstar has built a strong and deep expertise within the insurance sector and we are very pleased with the outcome of this investment. It gives us great pride to have played a role in building Acrisure into an industry leader, particularly working in partnership with Greg Williams and his executive team. Together, we have exceeded all our expectations, and we are very pleased to continue as investors to participate in Acrisure's future growth."
In addition to Acrisure, Genstar's current and former investments in the insurance industry include Insurity, Financial Horizons Group, Innovative Aftermarket Systems, Palomar Specialty, and Confie Seguros.
Evercore acted as exclusive financial adviser to Acrisure with J.P. Morgan leading the financing of the transaction.
Based in Grand Rapids, MI, Acrisure is a leading retail insurance brokerage offering comprehensive risk management and consulting solutions, including property & casualty, employee benefits, human resource outsourcing, loss & claims management, surety bonding and personal lines coverage. The Company has 86 platform locations in 26 states and approximately 2,700 employees throughout the United States. For more information, please visit www.Acrisure.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the financial services, software, industrial technology, and healthcare industries.
Acrisure Contact: Rob Trube
Executive Director of Marketing and Communications
Genstar Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
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SOURCE Acrisure, LLC