TPG Capital Sells Vertafore to Bain Capital and Vista Equity Partners
Ropes & Gray represented TPG Capital and portfolio company Vertafore in the proposed sale of Vertafore to Bain Capital Private Equity and Vista Equity Partners.
Headquartered in Bothell, Wash., Vertafore is the leader in modern insurance technology with the largest customer base in the industry. It has more than 45 years of industry expertise and connects every point of the distribution channel, from agencies to carriers to managing general agents, managing general underwriters, and state governments.
The proposed sale was announced May 2 and is expected to close during the third quarter of 2016 subject to customary regulatory review. Additional terms of the transaction were not disclosed.
The Ropes & Gray team advising TPG and Vertafore included private equity partner Amanda McGrady Morrison (Boston); finance partner Jay Kim (New York); tax partner Christopher Leich (Boston); executive compensation & employee benefits partner Loretta Richard (Boston); and private equity associate Will Baker (Boston).