Clayton, Dubilier & Rice (CD&R) has completed the acquisition of US-based Tranzact, which provides end-to-end customer acquisition solutions to the insurance sector.
Terms of the deal have not been disclosed.
Based in Fort Lee of New Jersey, Tranzact provides direct-to-consumer sales and marketing solutions for insurance carriers in the US.
The company offers digital, data and direct marketing solutions to carriers in three primary insurance verticals, including health, life and property and casualty (P&C) or auto.
Tranzact own two firms, which include Cignium and TZ Insurance Solutions.
Cignium offers software and services for the customers to manage their insurance marketing and sales operations.
TZ Insurance Solutions is a digital insurance agency that provides end-to-end customer acquisition solutions for insurance brands in America.
Tranzact employs around 1,100 people, of which more than 700 are licensed insurance agents across the health, life, auto and home insurance segments.
In addition, the firm licenses its technology to enable its customers enhance their insurance marketing and sales operations.
At the time of signing acquisition agreement, Tranzact president and CEO David Graf said: "We are excited to partner with CD&R and leverage the Firm's capabilities to execute our mission of helping blue chip consumer insurance brands grow quality direct-to-consumer business."
With offices in London and New York, CD&R invests in European and US-based businesses.
The company has managed investment of $22bn in 70 firms, representing a wide range of industries with an aggregate transaction value of about $100m.
Image: Clayton, Dubilier & Rice has acquired US-based Tranzact. Photo: courtesy of stockimages / FreeDigitalPhotos.net.