MENLO PARK, Calif. and CARROLLTON, Texas, Dec. 23, 2020 /PRNewswire/ — Accel-KKR, a top engineering-centered financial commitment firm with about $10 billion in cash commitments, today introduced that it has accomplished the sale of Insurance policies Systems Corporation (“ITC”), a main supplier of marketing, rating, and administration program and products and services to the insurance marketplace, to Zywave, Inc.
Accel-KKR to start with invested in ITC in April 2018 when the firm obtained a bulk interest in the organization from its founder. As a result of subsequent investment decision in organic and natural and inorganic progress strategies, ITC reworked alone from a modest small business with an revolutionary item into a scaled enterprise with sizeable topline expansion and functioning efficiency.
“The ITC results story is still one more example of our over 20-12 months historical past of doing work with entrepreneurial administration teams of program companies to assistance them get to their comprehensive likely,” said Tom Barnds, Co-Handling Associate of Accel-KKR. “We provide strategic, operational and economic assets to support corporations increase a lot quicker and obtain marketplace management. We are so pleased to have partnered with the ITC staff on scaling the enterprise and obtaining their vision.”
All through Accel-KKR’s holding time period, ITC built a sequence of strategic acquisitions to grow its product or service suite and geographic coverage. In November 2018, ITC obtained AccuAgency to toughness its position as a comparative ranking solution company. In August 2019, ITC obtained SmartHarbor to broaden its supplying in insurance plan agency promoting methods. Ultimately, in January 2020 ITC obtained AgencyMatrix to bolster its agency management computer software featuring.
“Underneath our possession, ITC grew revenues by approximately 3x and margins by over 9x,” explained Phil Cunningham, Operating Executive at Accel-KKR and Board Member of ITC. “We enabled a sleek founder changeover, backed a clever, formidable management crew with funds and strategic help and served them come to be an award-successful player in their discipline.” ITC has been named a Leading Engineering Supplier by Insurance coverage Company The usa for four consecutive a long time.
“We could not be happier for ITC as they comprehensive this section of their journey. We wish them and Zywave the incredibly most effective in their subsequent phase of development,” said Rob Palumbo, Co-Taking care of Lover of Accel-KKR.
About Accel-KKR:
Accel-KKR is a engineering-centered investment firm with around $10 billion in money commitments. The organization focuses on computer software and IT-enabled businesses, properly-positioned for topline and base-line development. At the main of Accel-KKR’s expense strategy is a motivation to creating robust partnerships with the administration groups of its portfolio corporations and a concentrate on constructing benefit alongside administration by leveraging the considerable methods readily available via the Accel-KKR network. Accel-KKR focuses on center-marketplace companies and gives a wide array of money methods which includes buyout funds, minority-growth investments, and credit rating alternatives. Accel-KKR also invests throughout a vast vary of transaction kinds together with non-public company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Finest Non-public Equity Firms for Business people“, its yearly listing of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with more places of work in Atlanta and London. To master a lot more, check out accel-kkr.com.
About ITC
Coverage Systems Corporation (ITC), founded in 1983, presents sites, agency promoting, comparative score, and administration software program and companies to the insurance policies industry, which includes unbiased brokers and insurance policies carriers. Headquartered in Carrollton, Texas, ITC is the biggest company of insurance plan agency internet sites in the United States and powers much more than two million monthly car and house offers as a result of its comparative rater TurboRater. At the moment, ITC serves additional than 250 insurance policy businesses and much more than 9,000 companies. For extra info, stop by us on-line at GetITC.com.
Media Call:
Todd Fogarty, Kekst CNC, [email protected] and 212-521-4854
Supply Accel-KKR
