FOUNDER & CEO
Morgan Partners Acts as Exclusive Financial Advisor to MADSKY MRP on its Sale to FV Holdings
October 17, 2019 - Wellesley, MA
Morgan Partners is pleased to announce that it has acted as exclusive financial advisor to technology-enabled insurance managed repair program MADSKY MRP ("MADSKY" or the "Company") in its acquisition by FV Holdings LLC ("FV Holdings"). This transaction, which closed this month, extends our deep insurance sector experience.
Founded in 2015, MADSKY provides US insurance carriers and their policyholders with an expanding network of over 6,500 skilled trade professionals to repair roofs and exteriors following a hail or wind event. By leveraging its proprietary technology platform and highly efficient adjusting process, MADSKY has rapidly scaled its operations to handle hundreds of thousands of claims across all fifty states.
In conjunction with the transaction, Hunter Powell, most recently with private equity firm BW Forsyth, has been appointed CEO. Founder & Current CEO, LC Nussbeck, will remain with MADSKY as a Strategic Advisor.
“Morgan Partners’ extensive market knowledge and amazing work ethic helped MADSKY secure this fantastic outcome. Selecting Morgan Partners was the right choice,” said Nussbeck. "I cannot say enough great things about their team.”
Marc Maselli, Founder and Managing Director at Morgan Partners, added, “MADSKY’s managed repair program repairs roofs faster and more cost effectively than the alternative approaches and delivers substantial benefits to all parties involved: the insurance carrier, the roofing contractor, and most importantly the policyholder. I’m looking forward to continued innovation from MADSKY in the future.”
This deal adds to Morgan Partners’ substantial track record in the Insuretech sector, having most recently advised Risk Control Technologies in its sale to Long Span Technologies and Insurance Technologies Corporation in their investment from Accel-KKR.
Terms of the transaction were not disclosed; further details can be found here.
MADSKY provides homeowners and national insurance carriers the largest network of skilled trade professionals across the U.S. to repair roofteriors following a hail or wind event. MADSKY is the trusted, go-to place for managing the entire roof restoration process. MADSKY’s network of more than 6,500 plus skilled roofing contractors, general contractors, independent field adjusters, independent desk adjusters, drone pilots, suppliers, manufacturers and more are responsible for doing the restoration work. Learn more at MADSKYmrp.com.