Personable will pursue aggressive “buy and build” strategy to create a more efficient, choice-driven alternative for non-standard auto agents
AlignTM Financial Group, LLC. (“Align”) today announced that it has partnered with private equity firm Excellere Partners (“Excellere”) to form Personable Holdings, Inc. (“Personable” or the “Company”); an independent agent-driven, specialist non-standard auto insurance provider. Personable recently acquired the non-standard auto insurance operations of Align General Insurance Agency, which include partnerships with multiple insurance carriers and relationships with over 2,500 independent agents in California and Texas. The newly formed company plans to expand its capabilities further via the organic extension of its service offerings and acquisitions of additional non-standard auto assets and businesses in a number of key strategic states. “We are building a non-standard auto insurance company that will efficiently deliver a choice of competitive products to independent agents via a single point of access for policy sales and servicing,” said Kieran Sweeney, chairman of Personable and CEO of Align.
“Personable currently partners with quality insurance carriers and a deep network of independent agents to provide non-standard auto insurance customers with an efficient way to obtain the affordable coverage options they require.”
“Personable currently partners with quality insurance carriers and a deep network of independent agents to provide non-standard auto insurance customers with an efficient way to obtain the affordable coverage options they require,” states Andy Swindall, CEO of Personable. “We are actively seeking to acquire businesses that augment our existing capabilities and infrastructure to further enhance the products and services provided to our insurance carrier and independent agent partners,” he continued.
“We built Excellere Partners to support emerging industry leaders like Personable,” said Ryan Heckman, managing partner of Excellere. “The Personable team shares our firm’s passion for creating extraordinary businesses that are differentiated by the quality and integrity of their people, the efficiency and scalability of their business processes and, importantly, their ability to deliver a truly outsized value proposition to their customers.”
Align Financial Group, LLC. (“Align”) is a Delaware domiciled insurance holding company headquartered in San Diego, California that owns Align General Insurance Agency, Inc., Public Livery Insurance Services, Inc. and E.L.M Insurance Brokers, Inc. which act as a general agency, program underwriting manager and/or wholesale broker. The Company began operating in early 2005 and, following the recent sale of its personal auto business, currently manages a number of unique specialty programs on an admitted and surplus lines basis on behalf of leading commercial lines insurers. The company has five specialist operating businesses: Construction Risks, Commercial Transportation, Property, Professional Lines and Worker’s Compensation. For more information about Align, please visit www.aligngeneral.com.
Excellere Partners is a middle market private equity firm based in Denver, Colorado that manages $730 million in committed capital. The firm specializes in partnering with entrepreneurs and management teams through majority recapitalizations and management buyouts as their companies pursue a vision of industry leadership. Excellere empowers its portfolio companies with a buy and build strategy that provides capital and a proprietary value creation system that accelerates growth while strengthening corporate infrastructure. For more information about Excellere, please visit www.excellerepartners.com.
Kieran Sweeney, 619-702-7022 ext. 201