"We highly recommend the Morgan Partners team to any company exploring strategic alternatives." 

 

BOB CAPPS
FOUNDER & CEO
ACCUAUTO


PRESS RELEASE

Morgan Partners Advises Assurance Systems on its Sale to AKKR-backed Insurance Technologies Corporation


November 5, 2018 - Newton, MA

Morgan Partners is pleased to announce that it acted as exclusive financial advisor to SaaS insurance software provider Assurance Systems Incorporated ("AccuAuto") in its sale to Insurance Technologies Incorporated ("ITC"), a portfolio company of Accel-KKR . AccuAuto is a provider of comparative rating, agency management, and marketing software to over 1,500 independent insurance agencies and more than 50 insurance carriers. Founded in 1986 and based in Norcross, GA, AccuAuto is one of the leading comparative raters serving the property/casualty insurance market.

 
"The Morgan Partners team was stellar and added incredible value. Their preparedness and insurance industry acumen contributed to us closing this transaction on an accelerated timeline," said Bob Capps, Founder and CEO of AccuAuto. He added, "Our shareholders are very pleased with the outcome. We highly recommend the Morgan Partners team to any company exploring strategic alternatives."
 
Marc Maselli, Founder and Managing Director at Morgan Partners, added: "AccuAuto is the comparative rating market leader in their segment. Their acquisition by ITC extends ITC's geographic footprint and creates a formidable multi-line national platform."

 

About Assurance Systems Inc.

Assurance Systems Inc. offers software, proprietary data, and services to independent agents and insurance carriers under the following brands: AccuAuto, a comparative rater for auto insurance; AccuAgency, an agency management system; and AgencyThrive, a website marketing service. AccuAuto is the #1 non-standard rater by market share in the states it serves. Headquartered outside Atlanta, GA, Assurance services more than 50 carriers and 1,500 agencies.

 

About Insurance Technologies Corporation

Insurance Technologies Corporation (ITC), founded in 1983, helps independent insurance agents and insurance carriers through its websites, marketing, rating, and management software and services. Its product offering includes Insurance Website Builder, AgencyBuzz, TurboRater and InsurancePro. Headquartered in Carrollton, Texas, ITC helps its customers across the United States grow their businesses and become more efficient through the philosophy of providing quality software and services. Currently, ITC serves more than 200 insurance companies and more than 6,000 agencies. For more information, visit ITC online at www.GetITC.com.

 

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.