Serving as joint lead arranger and bookrunner, Audax Private Debt provided a unitranche credit facility to support the acquisition of Strategic Insurance Agency Alliance (SIAA) by Odyssey Investment Partners, a private equity investment firm with offices in New York and Los Angeles.
Headquartered in Hampton, NH, SIAA is an alliance of independent insurance agencies. Originating in 1983 with the SAN Group, SIAA was formed in 1995 and will continue operations under the established model. At year-end 2020, the company reached $9.6 billion of total in-force premium, up from $8.9 billion at year-end 2019, and also signed 527 new member agencies.
“SIAA has experienced decades of tremendous success as the original and largest network of independent insurance agencies in the country,” Steve Ruby, managing director at Audax Private Debt, said. “We look forward to working with Odyssey and the SIAA team to support the company in this exciting next chapter.”
“Audax Private Debt once again operated in a flexible and thoughtful manner to support our financing needs, and we appreciate their continued partnership over the years,” Jeff Moffett, managing principal at Odyssey Investment Partners, said. “We’re pleased to be working with the Audax team as we pursue new growth opportunities for SIAA.”
