A Locke Lord team led by Jeff Etherington (New York) advised iA Financial Group in its agreement to acquire Austin-based IAS Parent Holdings, Inc., and its subsidiaries for a total enterprise value of $720 million, following a competitive auction process. The acquisition accelerates iA’s growth strategy, capitalizing on positive growth trends within the vehicle warranty market, and creates a leading U.S. vehicle warranty platform. The transaction is expected to close in the first quarter of 2020, pending regulatory approvals. For more information, see the press release. Additional assistance was provided by Brian Casey (Atlanta), Chris Flanagan and Ben Ferrucci (both of Boston), Mike Bennett and Emily Holpert (both of Chicago) Ted Augustinos, Julie Mahaney and Alexandra Cavaliere (all of Hartford), Sara Longtain and Evan Blankenau (both of Houston), Zachary Lerner, Aileen Meehan, Andrew Otis, Stephen Anastasia and Amanda Kane (all of New York), Lori Basilico and Joe Farside (both of Providence) and Steve Murphy and Aaron Igdalsky (both of Washington, D.C.).
Posted on December 5, 2019