International investment management firm TowerBrook Capital Partners has announced the acquisition of Orchid Underwriters Agency, a specialty underwriter of catastrophe-exposed property insurance, from private equity firm Gryphon Investors.
Orchid provides proprietary insurance solutions for “hard-to-place” risks to a growing, national network of retail agents and other strategic distribution partners.
Orchid President and Chief Executive Officer Brad Emmons will continue to lead Orchid, working alongside TowerBrook to continue the company’s growth.
Gryphon will maintain a significant equity position in the company moving forward.
“We are thrilled to partner with TowerBrook and look forward to benefiting from its deep operational experience and strong network in the insurance industry,” said Emmons.
“We have made significant strategic advancements under Gryphon’s ownership, and we now expect TowerBrook’s investment and guidance to further support future development as we continue to grow the platform organically through geographic and product expansion and pursue potential acquisitions.”
“We look forward to the opportunities ahead as we work together to deliver greater value for our partner agents, carriers, and talented employees,” Emmons added.
