Flexpoint Ford, a private equity firm specializing in the financial services and healthcare industries, announced entry into a definitive agreement to sell TigerRisk Partners, LLC (“TigerRisk”), a leading risk, capital and strategic advisor to the global insurance and reinsurance industries, to Howden Group (“Howden”), an international insurance broking group.
TigerRisk significantly enhances the scale and depth of Howden’s reinsurance and capital markets offering and builds on Howden’s integrated global approach to deliver more choice for their clients.
“This is an exciting development for TigerRisk as we look forward to partnering with Howden to further strengthen our position as a trusted strategic advisor to the global insurance and reinsurance markets. Our partnership with Howden reflects our continued commitment to building a global platform focused on recruiting top-tier talent and deploying world-class technology and analytics to deliver innovative solutions to our clients,” said Rod Fox, TigerRisk’s Co-Founder and Executive Chairman. “We have enjoyed the outstanding partnership with Flexpoint Ford and have benefited greatly from their strategic advice during a period of tremendous growth for TigerRisk.”
Rob Bredahl, TigerRisk’s CEO added, “This transaction is an important milestone for TigerRisk and could not have been achieved without our employees’ dedication to delivering creative solutions and unrelenting focus on client service. Our relationship with Flexpoint Ford has been an important part of this journey and their deep understanding of our business and support in executing our growth strategy has made them an ideal partner.”
During the partnership with Flexpoint Ford, TigerRisk accelerated the recruitment of new talent to the platform and expanded their employee base by nearly 50%, which led to a 25% annual growth in revenue.
Chris Ackerman, Managing Partner of Flexpoint Ford commented: “On behalf of our investors, we are grateful for the partnership with TigerRisk and its employee shareholders during a time of accelerated growth for the company. The success of our partnership has allowed us to create significant value for all stakeholders of TigerRisk.”
Dominic Hood, Managing Director of Flexpoint Ford, added: “Investing across the insurance ecosystem is an important area of focus for Flexpoint Ford and our partnership with TigerRisk advanced our knowledge and experience in this important sector. We are thankful for the tireless efforts of the entire TigerRisk team during our partnership.”
TigerRisk Capital Markets & Advisory acted as financial advisor to Flexpoint Ford and TigerRisk. Kirkland & Ellis LLP acted as legal counsel to Flexpoint Ford and TigerRisk. Willkie Farr & Gallagher LLP acted as legal counsel to TigerRisk management and employees.
The transaction is subject to customary regulatory approvals.
Source: Company Press Release
