Ropes & Gray Represents SquareTrade in Acquisition by Allstate
Ropes & Gray is representing SquareTrade, a consumer protection plan provider, in its $1.4 billion acquisition by The Allstate Corporation, the largest publicly held personal lines insurer in the United States. Allstate's agreement to purchase SquareTrade from shareholders, which include Bain Capital Private Equity and Bain Capital Ventures, was announced on Monday, Nov. 28.
In a press release, SquareTrade's co-founder, Ahmed Khaishgi, said: "Joining Allstate will enable SquareTrade to expand into new markets and products that Steve Abernethy and I did not imagine possible when we founded the company in 1999."
The Ropes & Gray team includes securities & public companies partner Joel Freedman, executive compensation & employee benefits partner Renata Ferrari, tax partner Eric Elfman, and IP transactions partner Ed Black.