Stone Point Capital Completes The Acquisition of Pennsylvania’s Genex Offerings
Genex offerings (genex), a wayne, penn.-based totally company of fee containment offerings to the workers’ repayment, incapacity and vehicle industries, introduced that price range controlled with the aid of non-public fairness company stone point capital llc (stone factor) have received a majority interest in genex from finances counseled by using apax partners, a international personal equity firm. Monetary phrases of the transaction had been not disclosed.
This acquisition renews a partnership on the way to assist the ongoing enhancement and enlargement of genex’s services, according to genex president and ceo peter madeja in a enterprise press launch.
Suntrust robinson humphrey served because the exclusive strategic and monetary marketing consultant to genex.
Based in 1978, genex helped introduce the clinical control concept and has persevered to serve as a fee containment and disability management provider. It has extra than 2,900 personnel and forty one service locations all through north the usa. The organization serves underwriters in people’ repayment, automobile, disability insurance and 1/3-celebration directors.
Stone factor is a economic offerings-centered private fairness firm based totally in greenwich, conn. The company has raised and controlled seven private equity budget – the trident budget – with mixture dedicated capital of about $19 billion. Stone point targets investments within the worldwide economic services industry, inclusive of investments in corporations that offer outsourced offerings to economic establishments, banks and depository institutions, asset management firms, insurance and reinsurance companies, coverage distribution and different insurance-related groups, forte lending and different credit score opportunities, loan services groups and employee blessings and healthcare groups.
Apax partners is a worldwide non-public equity advisory firm. Apax partners’ major buyout funds put money into agencies throughout four worldwide sectors of tech & telco, offerings, healthcare and purchaser. These budget offer lengthy-term equity financing to build and give a boost to agencies.