Thursday, June 10, 2010

Vertafore Acquired By Private Equity Firm

Bothell, Washington-based Vertafore, which develops software and other products for the insurance industry, said today that it has been acquired by private equity firm TPG Capital. The deal is worth $1.4 billion. TPG is acquiring Vertafore from Hellman & Friedman and co-investor JMI Equity. Vertafore was advised by Barclays Capital and Simpson Thacher & Bartlett LLP in the deal; TPG was advised by Credit Suisse, Clearly Gottlieb Steen & Hamilton LLP, and Deloitte.