Announced
Financials
Tags
Insurance Brokers
Pending
Majority
Private Equity
marketing insurance agency
Acquisition
Private
Friendly
United States
Domestic
Single Bidder
Synopsis
Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, agreed to invest in Association Member Benefits Advisors, a national affinity-based membership and marketing insurance agency. Financial terms were not disclosed. "AMBA is the only established player in the retired teacher and public employee association market, and is well positioned to participate in the broader senior market. The company has performed extremely well since our acquisition in 2016, including the recent global pandemic. We are enthusiastic about the untapped opportunities to achieve continued organic growth and to expand the business dramatically via targeted acquisitions. We are excited to continue our partnership with Steve Cardinal and his senior management team to capture AMBA’s full potential," Ryan Clark, Genstar Capital President and Managing Director.
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