VSS Makes Minority Investment in Support of the Management-led Buyout of Acrisure LLC
New York, NY – January 9, 2017 – VSS, a private equity investment firm focused on the information, business services, healthcare and education industries, announced today that it made a minority investment in Acrisure LLC (“Acrisure”), a leading national insurance brokerage. VSS’ investment was made alongside a consortium of minority investors led by ABRY Partners in a management-led buyout of the company, led by Acrisure’s CEO and co-founder, Greg Williams.
Founded in 2005, Acrisure is a leading insurance brokerage firm offering a range of property, casualty and specialty insurance products, along with employee benefits products and services. Acrisure has focused on expanding its geographic footprint and broadening the size and scope of its insurance offerings. The company has generated industry-leading organic growth,, invested in new data and analytic tools, and has undertaken a continuous and highly successful acquisition program.
Chris Russell, VSS Managing Director said, “We believe the Acrisure management team has built an impressive platform for organic and add-on growth, and has developed a top-tier culture in concert with its agency partners. Over the past few years, the Acrisure team has completed well over 100 add-on acquisitions, and will continue to consolidate the fragmented insurance brokerage industry during our investment period.”
VSS was introduced to the investment through its long-standing relationship with ABRY Partners, including a previous, and successful, co-investment in the insurance services industry.
About VSS
VSS (www.vss.com) is a leading private equity investment firm that invests in the information, business services, healthcare, and education industries. VSS provides capital for growth, recapitalizations, strategic acquisitions and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and has the ability to invest in situations requiring control or non-control equity, mezzanine and structured equity securities.
About Acrisure
Based in Grand Rapids, MI, Acrisure is a leading retail insurance brokerage offering comprehensive risk management and consulting solutions, including property & casualty, employee benefits, human resource outsourcing, loss & claims management, surety bonding and personal lines coverage. The company has 86 platform locations in 26 states and approximately 2,700 employees throughout the United States.