Euan Menzies, President and CEO of Vertafore, said “We are extremely proud of Vertafore’s market leading position, innovative products and proven ability to provide value-added services to our clients. We have enjoyed the strong support of Hellman & Friedman and JMI Equity over the past several years, and are excited to welcome our new partner, TPG.”
Mr. Menzies continued, “TPG is a premier private investment firm that has an impressive track record in the technology field. The TPG team understands our business and shares our vision for the future of the company. We believe this will be an excellent partnership as we collaborate to build future successes and continue our strong customer focus.”
“Vertafore is a world-class company that has developed essential products and services for the growing insurance industry,” said John Marren, a partner at TPG. “Vertafore has proven its ability to grow across market cycles both organically and through well-planned and successfully integrated acquisitions. We look forward to working with the company’s excellent management team and dedicated employees.”
“We have had a tremendously successful partnership with Euan Menzies and the entire Vertafore team,” said David Tunnell, Managing Director of Hellman & Friedman. “We are proud of the company’s performance and market leadership and are confident in a smooth ownership transition.”
Barclays Capital acted as financial advisor and Simpson Thacher & Bartlett LLP acted as legal counsel to Vertafore in connection with the transaction. Credit Suisse acted as financial advisor, Cleary Gottlieb Steen & Hamilton LLP served as legal counsel and Deloitte served as accounting and tax advisor to TPG in connection with the transaction. Debt financing is being provided by Credit Suisse.
About Vertafore
Vertafore is the leading provider of software and information to the insurance distribution channel including independent agents, brokers, MGAs, carriers and reinsurers. Vertafore leverages a unique industry presence to deliver meaningful solutions - powerful technology, critical information and robust insights to help organizations effectively respond to business challenges and capture new opportunities. Vertafore solutions have helped more than 17,000 customers and 500,000 users gain a competitive advantage to accelerate their business performance. For more information about Vertafore, please visit www.vertafore.com.