14 October 2014 Insurance

White Mountains buys majority stake in Tranzact

White Mountains Insurance Group has acquired a majority stake in insurance services company Tranzact.

White Mountains acquired approximately 63 percent of Tranzact for $178 million. Immediately following the closing, Tranzact completed a recapitalisation that allowed for the return of $44 million in capital to White Mountains.

Prior to the transaction, Tranzact was a portfolio company of Veronis Suhler Stevenson (VSS) and Ares Management.

Tranzact provides end-to-end, performance-driven customer acquisition solutions to insurance carriers. The company serves the health, life, auto, and home insurance segments and reaches millions of consumers each week.

"Tranzact is uniquely positioned to help insurance companies reach consumers. We at White Mountains are excited to partner with the Tranzact management team to help them execute on their vision," said Ray Barrette, chairman and chief executive officer (CEO) of White Mountains.

"Our team is excited and committed to extending our track record of market leadership and unparalleled execution in direct-to-consumer insurance solutions.  VSS and Ares have been strong, supportive partners to Tranzact over the years. We very much look forward to continuing our growth trajectory with White Mountains in the years to come," said David Graf, CEO of Tranzact.

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