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TPG Capital Completes Acquisition of Vertafore

Posted on 02 Aug 2010

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TPG Capital has completed the acquisition of Vertafore, a provider of software and services to the insurance industry. The deal was first announced on June 10, 2010. TPG purchased the company from Hellman & Friedman and its co-investor JMI Equity for a total consideration of $1.4 billion.

The acquisition was funded with a combination of investor capital and financing arranged through Credit Suisse, Bank of America Merrill Lynch, Barclays Capital and RBC Capital Markets.

Vertafore is a provider of software and information to the insurance distribution channel including independent agents, brokers, managing general agents, carriers and reinsurers.

TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with approximately $48 billion of assets under management and offices in San Francisco, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Shanghai, Singapore and Tokyo.