MidCap Advisors, a New York-based national mergers and acquisitions firm announced that it advised Buckingham Badler Associates (BBA) in connection with the sale of its business to Scottish American Capital. The terms of the transaction were not disclosed.
New York City-based BBA is a full-service managing general agency offering property and casualty, personal lines and other insurance and financial services.
“When I began to work on a perpetuation strategy with MidCap Advisors, it was important that the ultimate buyer would carry on our tradition of building solid relationships and also provide our employees with excellent opportunities to further excel,” said Stuart Badler, founder and president of BBA. “In less than thirty days, MidCap was able to structure, negotiate and close a transaction to help me accomplish my goals in this transition.”
Scottish American Capital is an investment fund with a focus on investing in and managing an insurance distribution business in the U.S.
“We held discussions and received attractive offers from several potential suitors, but Scottish American’s strategic plan and certainty of execution were a very appealing combination,” said Frank Robertson, VP at MidCap Advisors and advisor on the transaction.
MidCap Advisors is a middle-market mergers and acquisitions firm that represents insurance and financial services firms.