Mergers & acquisitions: Accounts
Some examples of recent deals:
A Fortune 500 consumer products manufacturer was spinning off a brand that no longer fit their portfolio. The seller was carrying a $1,000,000 self insured retention. The buyer needed first dollar general liability coverage. Via a conference call with the broker, buyer, and risk control staff, we were able to get comfortable with the go forward manufacturing process and quality control procedures. Using the seller’s first dollar loss data, we were able to project losses and make a fair proposal that the buyer accepted. Over the next 18 months the Private Equity firm added two more brands to the portfolio.
A large Technology firm was spinning off a consulting division that they had acquired just five years prior. The management of the consulting firm worked with a Private Equity firm to purchase the company. We provided a P&C insurance budget that helped the PE firm complete their pro formas and set their offering price. Pre-close, we were allowed to survey their locations and finalized an all lines proposal.
A privately held aircraft products manufacturing company needed a succession plan and partnered with a Private Equity firm to sell a majority of equity but continue to run the company for at least three years. The General Liability- Products coverage was placed with an aviation market. We wrote the Premises/ Operations CGL, Property, Automobile and Workers Compensation coverage.