Press Release | Financial Technology & Services (FTS)
AmeriLife Announces Strategic Investment from Genstar Capital
Renowned private equity firm’s joint partnership with Thomas H. Lee Partners will expand AmeriLife’s suite of services and offerings, and further accelerate growth for the nation’s leading distributor of health and financial solutions
CLEARWATER, Fla., June 13, 2022 /PRNewswire/ — AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing life and health insurance, annuities, and retirement planning solutions, today announced an investment from Genstar Capital (“Genstar”), a leading private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials and software industries. Genstar will join AmeriLife’s current private equity investor, Thomas H. Lee Partners, L.P. (“THL”), as an equal investor.
The joint partnership between two of the world’s leading private equity firms is a testament to AmeriLife’s strength and fervent pace of growth, and creates a strong foundation for continued nationwide expansion.
Headquartered in Clearwater, Fla., AmeriLife is one of the leading independent marketing organizations and registered investment advisors in the United States. The company employs more than 1,800 associates across the country, serving a growing population of more than 300,000 licensed agents and advisors in over 90 offices who, in turn, help enhance the health and financial wellbeing of more than 5 million pre-retirees and retirees.
“Over the last two years, AmeriLife has rapidly grown its affiliate base and invested heavily in best-in-class shared resources and support to fuel our tremendous organic growth,” said Scott R. Perry, chairman and CEO of AmeriLife. “Genstar’s investment will accelerate our growth and help us continue to build out our platform to provide superior support to our carrier partners, our affiliates and our agents.”
“Genstar Capital could not be more excited to welcome AmeriLife to our portfolio,” said Ryan Clark, president and managing director of Genstar Capital. “We have followed the tremendous progress of Scott and his team since we first met in 2016. AmeriLife has proven that its model is the future of insurance marketing and distribution. Combined with Genstar’s deep expertise in financial services, software and healthcare, and our collective commitment to delivering the data, tools and technology necessary to compete and win in today’s marketplace, we see huge opportunity for AmeriLife and its partners.”
“Over the past two years, AmeriLife has emerged as one of the premier distributors of health and financial solutions in the United States,” added Ganesh Rao, managing director and head of the Financial Technology and Services Group at THL. “We look forward to our continued partnership, and we welcome our partners at Genstar, whose investment will help accelerate AmeriLife’s next stage of growth and development.”
Evercore served as financial advisor to AmeriLife on the transaction. Additional terms of the transaction, which is subject to customary closing conditions, were not disclosed. The transaction is expected to be completed in the third quarter.
AmeriLife’s strength is its mission: to provide insurance and retirement solutions to help people live longer, healthier lives. In doing so, AmeriLife has become recognized as the leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions to enhance the lives of pre-retirees and retirees across the United States. For more than 50 years, AmeriLife has partnered with top insurance carriers to provide value and quality to customers served through a national distribution network of over 300,000 insurance agents and advisors, more than 50 marketing organizations, and 50 insurance agency locations. For more information, visit AmeriLife.com, and follow AmeriLife on Facebook and LinkedIn.
About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $35 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries.
About Thomas H. Lee Partners, L.P.
Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in middle-market growth companies exclusively within three sectors: Healthcare, Financial Technology & Services, and Technology & Business Solutions. THL couples deep sector expertise through an Identified Sector Opportunity (“ISO”) process with dedicated internal operating resources from its Strategic Resource Group (“SRG”) to transform and build great companies of lasting value in partnership with management. The Firm’s domain expertise and resources help to build great companies with an aim to accelerate growth, improve operations and drive long-term sustainable value. Since 1974, THL has raised more than $34 billion of equity capital, invested in over 160 companies and completed more than 500 add-on acquisitions representing an aggregate enterprise value at acquisition of over $210 billion.