"We are pleased to move forward with TPG as our new partner. They recognize the value we have built and they share our vision for a successful future," says Euan Menzies, president and CEO at Vertafore.
"Through innovation, steady growth, and strong leadership, Vertafore's products have become essential to the insurance industry," says John Marren, a partner at TPG. "We are pleased to be partnering with Vertafore's talented management team to achieve the company's next phase of growth."
The acquisition was funded with a combination of investor capital and financing arranged through Credit Suisse, Bank of America Merrill Lynch, Barclays Capital and RBC Capital Markets.
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