Carousel Capital Recapitalizes Ethos Risk Services
November 20, 2020
Carousel Capital has partnered with Ethos Risk Services' management in a recapitalization of Ethos Risk Services, a tech-enabled provider of fraud and claims investigation services headquartered in St. Petersburg, Florida. The deal was funded with equity from Carousel Capital’s fifth fund and senior debt from Freeport Financial Partners to support technology investment and expansion of Ethos’ investigator workforce.
- Buyers
- Carousel Capital, Freeport Financial Partners LLC
- Targets
- Ethos Risk Services, LLC
- Industry
- Insurance
- Location
- Florida, United States
- Transaction Type
- Recapitalization
Explore More
Related Acquisitions
-
Carousel Capital Invests in HUB Enterprises and Combines It with Ethos Risk Services
August 5, 2021
Professional Services
Carousel Capital has invested in HUB Enterprises, a Broussard, Louisiana-based security and insurance defense investigations firm, and will combine it with its existing portfolio company, Ethos Risk Services. The deal creates a larger, technology-enabled claims and investigations platform intended to expand fraud and risk mitigation capabilities and accelerate national growth.
-
Ethos Risk Services Acquires Claims Eval
April 2, 2024
Healthcare Services
Ethos Risk Services has acquired Claims Eval, a provider of peer and utilization review services for workers' compensation, disability, group health and behavioral health markets. The deal expands Ethos' medical management capabilities — adding Claims Eval's proprietary web-based case management platform, multi-state licensures and a national physician network of over 1,200 — and was advised by Bailey & Company to Claims Eval.
-
Ethos Risk Services Acquires ForzaCare
August 19, 2025
Healthcare Services
Ethos Risk Services has acquired ForzaCare, a clinical nurse case management provider, to expand Ethos’ field-based and telephonic case management capabilities and broaden its integrated medical management services for carriers, TPAs, and employers. The acquisition adds experienced clinical staff and enhances Ethos’ end-to-end claims offering as part of its ongoing roll-up strategy (Ethos' eleventh acquisition since 2019).
-
Carousel Capital Recapitalizes Reliance Partners
August 29, 2022
Insurance
Carousel Capital partnered with Reliance Partners' management and existing investor Lamp Post Group to recapitalize Reliance Partners, a Chattanooga-based commercial insurance broker focused on the transportation industry. The recapitalization will provide capital and strategic support to help Reliance scale its premium volume (nearly $500 million today) and pursue its goal of exceeding $1 billion in gross written premiums.
-
Carousel Capital Recapitalizes Palmetto Infusion Services
April 16, 2019
Healthcare Services
Carousel Capital partnered with Palmetto Infusion Services management to recapitalize Palmetto, a leading operator of ambulatory infusion centers. The recapitalization will provide growth capital to expand Palmetto's footprint across the Southeast and support continued delivery of specialty infusion and in-home administration services.
-
ACA Group Acquires Ethos ESG
September 21, 2022
Data & Analytics
ACA Group has acquired Ethos ESG, a provider of ESG ratings data and analytics for financial advisors, asset managers and institutional investors. The acquisition is ACA's first analytics offering and will be integrated into its ESG Advisory practice to provide data-driven analysis, impact ratings and automated ESG reporting; financial terms were not disclosed.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.