Martha Plimpton

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

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木曜日, 5月 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.

Uniti to Merge with Windstream Creating Premier Insurgent Fiber Provider

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金曜日, 5月 3, 2024

LITTLE ROCK, Ark., May 03, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has entered into a definitive agreement to merge with Windstream Holdings II, LLC (“Windstream”). Under the terms of the agreement, which have been unanimously approved by both companies’ Board of Directors, upon closing, Uniti shareholders will hold approximately 62% of the outstanding common equity of the combined company and Windstream shareholders will hold approximately 38% of the outstanding common equity.

Key Points:

LITTLE ROCK, Ark., May 03, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has entered into a definitive agreement to merge with Windstream Holdings II, LLC (“Windstream”).
The demand for fiber broadband has never been greater, and Uniti is now expanding its reach into FTTH with an attractive scaled platform.
The combination of Uniti and Windstream also removes several dis-synergies that exist in the current landlord/tenant relationship and greatly enhances Uniti’s optionality for strategic initiatives.
Uniti expects to fund the $425 million of cash consideration to shareholders of Windstream from operations, revolver borrowings and/or future capital markets transactions.

Third Point Announces Launch of Malibu Life Re

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木曜日, 5月 2, 2024

Finance, Banking, Professional Services, Asset Management, Insurance, Lazard, Cayman Islands, Risk, Martha Plimpton, Third Point Management, Partnership, Life, Risk management, Reinsurance, Financial adviser

Third Point LLC, a New York-based alternative asset manager, announces the launch of Malibu Life Reinsurance SPC (“Malibu Life Re”), a licensed life and annuity reinsurer based in the Cayman Islands.

Key Points:

Third Point LLC, a New York-based alternative asset manager, announces the launch of Malibu Life Reinsurance SPC (“Malibu Life Re”), a licensed life and annuity reinsurer based in the Cayman Islands.
Third Point will provide investment management and strategic services to Malibu Life Re.
Malibu Life Re intends to scale through select partnerships with insurers providing flow and/or block reinsurance.
Third Point LLC Founder and CEO, Daniel S. Loeb, said “We are excited to form Malibu Life Re to provide attractive capital solutions in the life and annuity space in partnership with leading insurers.

Brookfield Reinsurance Completes Acquisition of AEL

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木曜日, 5月 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

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火曜日, 4月 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

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木曜日, 4月 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.

Silver Lake to Take Endeavor Private

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火曜日, 4月 2, 2024

Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.

Key Points:

Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.
On the unaffected date, the equity value was $8.2 billion, and the premium to be paid by Silver Lake represents $4.6 billion more equity value to all Endeavor stockholders.
Ariel Emanuel, CEO of Endeavor, said: "Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today.
Egon, Stephen, and the broader Silver Lake team have been and will continue to be phenomenal partners in Endeavor’s journey, and we look forward to the road ahead.”
Stephen Evans, Managing Director of Silver Lake and a Director of Endeavor, said: “The team at Silver Lake is proud of our longstanding partnership with Endeavor, marked by more than $3.5 billion of direct investment across six distinct transactions over 12 years.

TPG Agrees to Acquire Classic Collision

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水曜日, 4月 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

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火曜日, 4月 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:

木曜日, 3月 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.