The Firm is representing funds advised by Apax Partners in connection with the announced acquisition of AssuredPartners, Inc., a portfolio company of GTCR LLC. Under the terms of the agreement, funds advised by Apax will hold a majority interest in the company, while members of Assured’s senior management will continue to have a significant equity position. The financial terms of the transaction are not being disclosed.
Founded in 2011 and headquartered near Orlando, FL, AssuredPartners is the sixth largest independent Property & Casualty insurance brokerage in the nation with offices in over 30 states, the District of Columbia and London. Through Assured’s network of agencies, the company provides property and casualty and employee benefits insurance brokerage services to commercial customers and individuals.
The Simpson Thacher team includes Mark Pflug, Ryerson Symons, Nick Ramphal, Jeongseok Jay Yu, Dan Areshenko and Lisa Zhang (M&A); Brian Steinhardt (Banking & Credit); Gary Mandel and Devin Heckman (Tax); Larry Moss, Doug Tang and Nadine Mompremier (Executive Compensation and Employee Benefits); Lori Lesser and Jasmine Kaufman (IP); Steve DeLott (Insurance); Krista McManus (Real Estate); and Michael Naughton and William Kearney (Competition). Summer associate Steve LoCascio provided valuable assistance.