A Locke Lord team led by Jeff Etherington (New York) advised iA Financial Group in the completed acquisition of Austin-based IAS Parent Holdings, Inc., and its subsidiaries for a total enterprise value of $720 million, following a competitive auction process. IAS is one of the largest independent providers of solutions in the U.S. vehicle warranty market and the acquisition positions iA Financial Group for growth opportunities that may arise in the current highly fragmented market. The transaction closed May 22, 2020. For more information, see the press release. Additional assistance was provided by Brian Casey (Atlanta), Jon Gillum (Austin), Brian Devine, Chris Flanagan, Ben Ferrucci and Brandon Curtin (all of Boston), Mike Bennett (Chicago) Ted Augustinos, Julie Mahaney and Alexandra Cavaliere (all of Hartford), Sara Longtain (Houston), Aileen Meehan, Andrew Otis, Zachary Lerner, Jason Ulezalka and Amanda Kane (all of New York), Lori Basilico and Joe Farside (both of Providence) and Steve Murphy (Washington, D.C.).
Posted on May 26, 2020