DeBevoise | Jotup

American Coastal Insurance Corporation Announces the Sale of Interboro Insurance Company to Forza Insurance Holdings, LLC

Retrieved on:

Giovedì, Maggio 9, 2024

Professional Services, Insurance, Finance, Policy, Martha Plimpton, Partnership, Acquisition, Financial services, DeBevoise, ACIC

American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) (“the Company”, “American Coastal” or “ACIC”), the insurance holding company of Interboro Insurance Company (“Interboro”), a New York domiciled insurance company, announced today that it has signed definitive agreements with Forza Insurance Holdings, LLC (“Forza”) in which ACIC will sell and Forza will acquire 100% of the issued and outstanding stock of Interboro.

Key Points:

American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) (“the Company”, “American Coastal” or “ACIC”), the insurance holding company of Interboro Insurance Company (“Interboro”), a New York domiciled insurance company, announced today that it has signed definitive agreements with Forza Insurance Holdings, LLC (“Forza”) in which ACIC will sell and Forza will acquire 100% of the issued and outstanding stock of Interboro.
Concurrently, Interboro and SageSure entered into a Program Administrator Agreement and a Claims Services Agreement on May 9, 2024.
Under the terms of these service agreements, SageSure will provide policy administration, underwriting and claims administration services on behalf of Interboro.
“We are excited to partner with Interboro and grow our Forza partnership.”
Raymond James & Associates acted as exclusive financial advisor to American Coastal.

Brookfield Reinsurance Completes Acquisition of AEL

Retrieved on:

Giovedì, Maggio 2, 2024

Oliver Cromwell, LLP, Torys, Martha Plimpton, BMO Capital Markets, Insurance, NEWS, TSX, Barclays, Growth, J. P. Morgan, Acquisition, DeBevoise, Brookfield (corporation), AEL, Sullivan & Cromwell, Cravath, Swaine & Moore, Financial services

BROOKFIELD, NEWS, May 02, 2024 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE, BNRE.A) and American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”) today announced the completion of Brookfield Reinsurance’s acquisition of AEL in a cash and stock transaction valued at $56.50 per AEL share.

Key Points:

BROOKFIELD, NEWS, May 02, 2024 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE, BNRE.A) and American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”) today announced the completion of Brookfield Reinsurance’s acquisition of AEL in a cash and stock transaction valued at $56.50 per AEL share.
Jon Bayer, Managing Partner at Brookfield Reinsurance said, “We are excited to welcome AEL to our organization as we continue to grow, diversify and scale our retirement services capabilities.
Barclays served as lead financial advisor to Brookfield Reinsurance and BMO Capital Markets also acted as an advisor to Brookfield Reinsurance on this transaction.
Cravath, Swaine & Moore LLP served as legal advisor to Brookfield Reinsurance and Debevoise & Plimpton LLP served as Brookfield Reinsurance’s insurance legal counsel.

Cornerstone Building Brands Completes Acquisition of Harvey Building Products; Broadens Exposure to Repair-and-Remodel End Market

Retrieved on:

Martedì, Aprile 23, 2024

Other Manufacturing, Commercial Building & Real Estate, Construction & Property, Steel, Engineering, REIT, Building Systems, Manufacturing, Other Construction & Property, Residential Building & Real Estate, Martha Plimpton, Acquisition, DeBevoise, Multimedia

Cornerstone Building Brands, Inc. ("Cornerstone Building Brands"), one of the largest manufacturers of exterior building products in North America, has completed its previously announced acquisition of Harvey Building Products Corp. (“Harvey”) and its portfolio of industry-leading brands: Harvey®, SoftLite® and Thermo-Tech®.

Key Points:

Cornerstone Building Brands, Inc. ("Cornerstone Building Brands"), one of the largest manufacturers of exterior building products in North America, has completed its previously announced acquisition of Harvey Building Products Corp. (“Harvey”) and its portfolio of industry-leading brands: Harvey®, SoftLite® and Thermo-Tech®.
This strategic acquisition increases Cornerstone Buildings Brands’ exposure to the Repair and Remodel (“R&R”) end market and strengthens its offering in distribution and dealer channels.
View the full release here: https://www.businesswire.com/news/home/20240423289502/en/
Cornerstone Building Brands completes acquisition of Harvey Building Products, broadening its exposure to the repair and remodel (R&R) end market and strengthening its distribution and dealer channel offering.
(Graphic: Business Wire)
Moelis & Company LLC served as the exclusive financial advisor and Debevoise & Plimpton LLP served as legal counsel to Cornerstone Building Brands.

WEX INC. FILES FEDERAL LAWSUIT AGAINST HP TO PROTECT TRADEMARK AND BRAND

Retrieved on:

Giovedì, Aprile 11, 2024

Debevoise & Plimpton, Ecosystem, Martha Plimpton, AI, Software, Software as a service, HP, Confusion, HP Inc., Data management, Hewlett-Packard, DeBevoise, IA Financial Group, WEX, Friction

On March 7, 2024, HP announced the launch of its own "WEX," a misappropriation of WEX's trademarks.

Key Points:

On March 7, 2024, HP announced the launch of its own "WEX," a misappropriation of WEX's trademarks.
HP's "WEX" is marketing to a similar customer base as WEX, which is inevitably causing confusion in the marketplace.
WEX holds five incontestable trademark registrations protecting use of the WEX name for services that HP's "WEX" is attempting to mirror, claiming services in the same classes as the registered WEX trademarks.
WEX intends to seek a preliminary injunction to force HP to immediately discontinue all further infringement of the WEX trademark.

TPG Agrees to Acquire Classic Collision

Retrieved on:

Mercoledì, Aprile 3, 2024

TPG (NASDAQ: TPG), a global alternative asset management firm, announced today that it has signed a definitive agreement to acquire Classic Collision, a leading, national collision repair multi-site operator.

Key Points:

TPG (NASDAQ: TPG), a global alternative asset management firm, announced today that it has signed a definitive agreement to acquire Classic Collision, a leading, national collision repair multi-site operator.
TPG Capital, the U.S. and European private equity platform of TPG, will acquire the business from New Mountain Capital.
“Today’s announcement is an exciting milestone for Classic Collision and a great testament to the strength of our team and our collective commitment to providing the highest quality service with integrity,” said Toan Nguyen, CEO of Classic Collision.
With longstanding industry relationships and numerous manufacturer certifications, Classic Collision is broadly recognized as a trusted partner in comprehensive collision repair.

The Rawlings Group Announces Growth Investment from New Mountain Capital

Retrieved on:

Martedì, Aprile 2, 2024

The Rawlings Group (“Rawlings” or the “Company”), a leading coverage analytics provider ensuring payment accuracy on behalf of its health plan clients, today announced a strategic investment from affiliates of New Mountain Capital, LLC (“New Mountain”), a leading growth-oriented investment firm with approximately $50 billion in assets under management.

Key Points:

The Rawlings Group (“Rawlings” or the “Company”), a leading coverage analytics provider ensuring payment accuracy on behalf of its health plan clients, today announced a strategic investment from affiliates of New Mountain Capital, LLC (“New Mountain”), a leading growth-oriented investment firm with approximately $50 billion in assets under management.
New Mountain is partnering with the Rawlings management team to support the next phase of growth for the Company, including investments in artificial intelligence, product development, and expansion into new markets and capabilities.
With the help of our new partners, the company will continue its growth and success on behalf of health insurers,” said Ryan Little, CEO of The Rawlings Group.
AMB Investment Bank served as financial advisor and Ropes & Gray LLP served as legal advisor to New Mountain Capital.

Emerald Bay Risk Solutions Launches with Strategic Investment from Bain Capital Insurance

Retrieved on:

Giovedì, Marzo 28, 2024

Emerald Bay Risk Solutions (“Emerald Bay” or the “Company”), a collaborative underwriting carrier, today announced its formal launch with a significant strategic investment from Bain Capital Insurance , the dedicated insurance investing unit of Bain Capital.

Key Points:

Emerald Bay Risk Solutions (“Emerald Bay” or the “Company”), a collaborative underwriting carrier, today announced its formal launch with a significant strategic investment from Bain Capital Insurance , the dedicated insurance investing unit of Bain Capital.
Emerald Bay is an innovative program specialist that seeks to create an alignment of interests across the entire risk value chain through integrated solutions and disciplined underwriting enhanced by a proprietary data-driven technology platform.
Emerald Bay begins operations with a strong financial foundation, having secured a rating of “A-“ Stable, Financial Size category VIII, from AM Best.
Bain Capital Insurance was advised by McDermott Will & Emery and Debevoise & Plimpton LLP.

Morgan Stanley Capital Partners Completes Sale of World 50 to New Continuation Fund Investment Vehicle

Retrieved on:

Martedì, Marzo 26, 2024

Banking, Asset Management, Professional Services, Finance, Metalmark Capital, Growth, Partnership, Corporate services, Sale, MSCP, DeBevoise, Investment, Parent, Debevoise & Plimpton, Management

Investment funds managed by Morgan Stanley Capital Partners (“MSCP”) today announced the sale of World 50 Parent LLC and its related subsidiary companies (“World 50” or the “Company”) to a single asset GP-led continuation fund investment vehicle managed by an affiliate of MSCP.

Key Points:

Investment funds managed by Morgan Stanley Capital Partners (“MSCP”) today announced the sale of World 50 Parent LLC and its related subsidiary companies (“World 50” or the “Company”) to a single asset GP-led continuation fund investment vehicle managed by an affiliate of MSCP.
The continuation fund is led by investments from Pantheon with co-lead participation from Blue Owl Strategic Equity and Lexington, with Norwest, Ares Management Funds, AltamarCAM and Churchill also committing to the vehicle.
Headquartered in Atlanta, Georgia, World 50 is an invitation-only, peer-to-peer network and knowledge exchange platform.
“We believe World 50 is a unique business model with multiple levers for continued growth.

Sonita Bennitt Joins Seward & Kissel’s Tax Group

Retrieved on:

Mercoledì, Febbraio 28, 2024

Seward & Kissel LLP announced today that Sonita M. Bennitt , former counsel with Goodwin Procter LLP, has joined the firm’s New York office as a partner in the Tax Group .

Key Points:

Seward & Kissel LLP announced today that Sonita M. Bennitt , former counsel with Goodwin Procter LLP, has joined the firm’s New York office as a partner in the Tax Group .
She also advised clients on tax aspects of real estate joint ventures and real estate investment trusts.
“Sonita’s wealth of experience makes her a valuable addition to our firm and the Tax Group,” said Jim Cofer , managing partner of Seward & Kissel and a partner in the firm’s Tax Group.
“Her deep background in private fund formation and structuring makes her an ideal fit with our Tax Group and the broader work of the firm.”
Prior to Goodwin Procter, Bennitt practiced as a tax associate at Debevoise & Plimpton LLP.

Alliance Resource Partners, L.P. Names Steven Schnitzer Senior Vice President, General Counsel and Secretary

Retrieved on:

Martedì, Febbraio 27, 2024

Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that Steven Schnitzer will join ARLP as Senior Vice President, General Counsel and Secretary of Alliance Resource Management GP, LLC, the general partner of ARLP, on March 1, 2024 to lead ARLP's legal activities.

Key Points:

Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that Steven Schnitzer will join ARLP as Senior Vice President, General Counsel and Secretary of Alliance Resource Management GP, LLC, the general partner of ARLP, on March 1, 2024 to lead ARLP's legal activities.
"Mr. Schnitzer is well-known to ARLP and several members of our management team," said Joseph W. Craft III, Chairman, President and Chief Executive Officer.
He is a seasoned general counsel.
Mr. Schnitzer will succeed R. Eberley Davis, who will relinquish his legal responsibilities for the Partnership after seventeen years of exemplary service.