GTCR and Recognize to Acquire TRANZACT

Oct 04, 2024•10 months ago

Acquiring Company

GTCR

Acquired Company

TRANZACT

Chicago

New JerseyFinancial ServicesInsurtechInsuranceEmployee Benefits

Description

GTCR, a leading private equity firm, has entered into a definitive agreement to acquire TRANZACT, a direct-to-consumer insurance services company, alongside Recognize. The existing management team, including President Andy Nelson, will continue to lead the business. The acquisition aims to build on TRANZACT's strong performance and target areas of growth amongst its insurance carrier partners.

Company Information

Company

GTCR

Location

Chicago, Illinois, United States

About

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders StrategyTM - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com. Follow GTCR on LinkedIn.

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M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed