EPIC Holdings, Inc. has announced that it plans to acquire Integro Holdings Inc., the company that houses all the U.S operations of international re/insurance broker and risk management firm Integro Group Holdings, LP.
The transaction, which is expected to close in January 2019, will see EPIC benefit from the addition of 400 team members across 22 locations in the U.S.
Founded in 2005, Integro is focused on a number of specialist areas of re/insurance, including entertainment and sports, transportation and logistics businesses, and solutions for professional services firms, such as accountants, lawyers and hedge funds.
It also offers risk management services, targets middle market accounts, and specialises in employee benefits consulting.
EPIC explained that the acquisition of Integro U.S, which has revenue in excess of $150 million, would provide it with expertise that is well aligned with its existing re/insurance distribution platform.
Following the transaction, Integro U.S will continue to be led by Marc Kunney, who commented: “Joining forces with EPIC allows us to continue offering our clients the highest level of service and expertise, while providing depth and scale to further invest in our combined capabilities.”
Pete Garvey, Chief Executive Officer (CEO) of EPIC Insurance Brokers & Consultants and a founder and former CEO of Integro Ltd., also stated: “I know firsthand what a high quality group Integro is. We can’t be more delighted to have their US team join forces with EPIC.”
Steve Denton, President of EPIC Holdings, added: “EPIC and Integro USA fit together perfectly with common themes including a passion for client service and delivering specialty capabilities supported by actionable analytics.”
Rob Giammarco at Bank of America Merrill Lynch acted as the financial advisor for EPIC during this transaction and Chris Machera at Weil, Gotshal & Manges, LLP was its legal advisor.
Meanwhile, Stuart Britton at Evercore acted as the financial advisor for Integro and Paul Kukish at Latham & Watkins, LLP was its legal advisor.
EPIC Holdings is the corporate parent that oversees all of the investments across the EPIC insurance platform, alongside institutional and private equity specialists.
