| CHARLOTTE, NC — American Wholesale Insurance Group (AmWINS), the leading independent insurance wholesaler, announced the signing of a definitive agreement to sell a majority of its ownership to affiliates of Parthenon Capital, LLC, a Boston and San Francisco-based private equity firm in a transaction where management will continue to own a substantial portion of the Company. The consummation of the transaction is subject to normal and customary closing conditions.
With offices in over 35 locations across the United States, AmWINS (www.amwins.com) is a wholesale insurance brokerage firm dedicated to serving retail agents throughout the U.S. by providing property and casualty brokerage, program administration, and group life and health brokerage services. AmWINS generates total premium placements of over $2.4 billion annually, making it the largest independently-owned wholesale insurance broker operating in the United States.
Parthenon Capital is a $1.1 billion private equity firm with offices in Boston and San Francisco. Parthenon works with owners and managers to build value by offering growth capital and strategic operating expertise enabling a company to reach its Full Potential. Parthenon provides equity capital to mid-sized companies with revenues between $50 million and $500 million. Parthenon Capital has a particular expertise in the following industries: Business/Financial Services, Healthcare, Value-Added Distribution, Consumer Products and Niche Manufacturing. For more information, visit www.parthenoncapital.com.
For further information contact:
American Whole Insurance Group, Gregg Calestini, Chief Marketing Officer Telephone: 704.943.2004
Parthenon Capital, Nanette Sorich, Marketing & Communications Telephone: 617.960.4052 |
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