iA Financial Group Acquires Innovative Aftermarket Systems from Genstar Capital and Flexpoint Ford
May 26, 2020
iA Financial Group (iA Financial Corporation Inc.) has completed the acquisition of Innovative Aftermarket Systems (IAS), a U.S.-based provider of vehicle protection products, administration and underwriting, from Genstar Capital and minority holder Flexpoint Ford for US$720 million. Headquartered in Austin, Texas, IAS operates with more than 500 employees and a distribution network of over 4,300 dealer relationships; iA said the deal strengthens its U.S. warranty capabilities and positions the combined business for growth in a fragmented market.
- Buyers
- iA Financial Group (iA Financial Corporation Inc.)
- Targets
- Innovative Aftermarket Systems (IAS)
- Sellers
- Genstar Capital, Flexpoint Ford
- Industry
- Insurance
- Location
- Texas, United States
- Transaction Type
- Buyout
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