4 Firms Build $586M Go-Private Deal For Insurer ProSight
By Benjamin Horney (January 15, 2021, 10:34 AM EST) -- TowerBrook Capital Partners and Further Global Capital Management will buy New Jersey-based property and casualty insurer ProSight Global for roughly $586 million, the companies said Friday, in an agreement assembled by Ropes & Gray, Sullivan & Cromwell, Sidley Austin and Kirkland.
The all-cash deal technically sees affiliates of investment management firm TowerBrook Capital Partners LP and private equity firm Further Global Capital Management picking up all of the outstanding shares of ProSight Global Inc., according to a statement. ProSight, formed in 2009, provides property and casualty insurance services in all 50 U.S. states.
Ropes & Gray LLP and Sullivan & Cromwell...
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