Alera Group Merges with Propel Insurance Agency and Completes Recapitalization
September 8, 2021
Alera Group has signed a definitive agreement to merge with Propel Insurance Agency, a privately held insurance broker headquartered in Tacoma, Washington. Concurrently, Alera completed a recapitalization with new capital from existing partner Genstar Capital and Propel's capital partner Flexpoint Ford to support the combined company’s national growth and expanded P&C capabilities.
- Buyers
- Alera Group, Genstar Capital, Flexpoint Ford
- Targets
- Propel Insurance Agency
- Industry
- Insurance
- Location
- Washington, United States
- Transaction Type
- Recapitalization
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