Integro To Be Acquired By Odyssey Investment Partners

Integro To Be Acquired By Odyssey Investment Partners
05.08.2015 01:00 am

Integro To Be Acquired By Odyssey Investment Partners

M&A Deals

Integro Ltd., an international insurance brokerage and risk management firm, today announced that it has reached an agreement to be acquired by entities affiliated with Odyssey Investment Partners, LLC, positioning Integro for continued growth. Financial details of the investment were not disclosed.

Founded in 2005, Integro has evolved to become a leading specialty firm with a significant international presence. In recent years, Integro has been actively building its specialty areas, including Healthcare; Entertainment; Professional Services; Aviation; Energy; Trade & Logistics; Reinsurance; and Benefits Consulting in the US, Canada and internationally. Integro has catapulted to the eighth largest private broker in the United States in terms of property/casualty written premium, according to Insurance Journal. Integro serves clients in over 125 countries from more than 40 offices in the United States, Canada, the United Kingdom and Bermuda.

Jeffrey McKibben, a Managing Principal of Odyssey Investment Partners, said, "Integro is an extraordinary success story, and we are committed to supporting its continued development, particularly around its specialty offerings. We are enthusiastic to invest in and partner with Integro's management team led by William Goldstein, John Sutton, Toby Humphreys and Marc Kunney, and share their strategic vision for their business and its focus markets."

Mr. Goldstein, President of Integro, said, "Odyssey is an ideal partner as we build on the powerful platform our early investors helped us put in place. Odyssey's resources and industry expertise will help accelerate the growth trajectory of our core business and specialty acquisitions."

The Integro management team will remain in place and certain members of its management team and other employees will remain shareholders in the company.

Completion of the transaction, which is expected in the fourth quarter of 2015, is subject to customary closing conditions for the acquisition of an international insurance brokerage and risk management company, including antitrust regulatory approval and approval of the UK Financial Conduct Authority. Shareholders of Integro that control approximately 70% of the shares entitled to vote on the acquisition (which is well above the percentage sufficient to approve the acquisition) have entered into voting agreements with the acquiring entities.

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