Tiptree Inc. Acquires Smart AutoCare
December 17, 2019
Tiptree Inc., through its insurance subsidiary, agreed to acquire Smart AutoCare, a vehicle warranty solutions provider led by founder and CEO Peter Masi, in an all-cash transaction with incentive-based earnouts. The deal will make Smart AutoCare a wholly owned subsidiary of Tiptree Warranty Holdings LLC and is intended to materially expand Tiptree’s warranty distribution channels and fee-based cash flows outside its regulated insurance subsidiaries.
- Buyers
- Tiptree Inc.
- Targets
- Smart AutoCare
- Sellers
- Peter Masi
- Industry
- Insurance
- Location
- Texas, United States
- Transaction Type
- Buyout
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