Genstar Capital Acquires Innovative Aftermarket Systems
Ropes & Gray advised the private equity firm Genstar Capital in its acquisition of Innovative Aftermarket Systems (IAS), a marketer, administrator and underwriter of vehicle protection products and related services.
The deal was announced Dec. 23. Terms were not disclosed. Genstar is a middle-market private equity firm focusing on investments in segments of the insurance and financial services, software, life sciences, health care and industrial technology sectors. IAS offers automotive insurance products and services including anti-theft protection, tire and wheel coverage, windshield repair and replacement, key replacement and paintless dent repair.
The Ropes & Gray team that worked on the deal was led by private equity transactions partner Todd Boes and included Boston-based finance partner Michael Lee, New York-based tax partner Lee Allison, San Francisco-based private equity transactions associate Jay Freedman and Boston-based finance associates Annie Tigani.