Axis Insurance Managers secures growth fund
Axis Insurance Managers secures growth fund | Insurance Business Canada
Mergers & Acquisitions
Axis Insurance Managers secures growth fund
Investment partnership to provide “incredible opportunity”
Mergers & Acquisitions
By
Terry Gangcuangco
Independent specialty insurance brokerage Axis Insurance Managers has announced a significant growth investment from funds managed by middle-market investment firm Lee Equity Partners, LLC.
The strategic partnership with Lee Equity aims to position Axis Insurance for sustained growth and aligns well with the company’s current shareholders. Meanwhile, Axis Insurance founder and chief executive Alex Meier maintained the majority of his equity stake as part of the transaction.
“Our team is excited to partner with a seasoned financial services investor with a deep understanding of the insurance industry,” Meier noted.
Mark Mauceri, partner at Lee Equity, remarked: “Axis Insurance is an emerging leader in specialty commercial insurance with an impressive track record of growth. There’s great potential for the company to become a leading national broker in the Canadian market.”
Another Lee Equity partner, Mark Gormley, added: “We have been highly impressed with the thoughtful approach Axis Insurance has taken to building a market-leading business, and we are excited to partner with Alex and the Axis leadership team to capitalize on the many opportunities ahead.”
Lee Equity and its principals have a strong history of investing in the insurance sector, with investments in Captive Resources, McLarens, K2 Insurance, Simplicity Group, and Universal American.
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