The investor group was led by Thomas H. Lee Partners, (THL), a premier private equity firm investing in growth companies, and other investors, including Cannae Holdings, Inc. and certain THL limited partners, effective March 18, 2020
Image: AmeriLife and Thomas H. Lee Partners sign recapitalization agreement. (Credit: Pixabay/aymane jdidi.)
AmeriLife Group, the national leader in marketing and distributing life, health, and retirement solutions, today announced completion of the previously announced recapitalization agreement.
The investor group was led by Thomas H. Lee Partners, (THL), a premier private equity firm investing in growth companies, and other investors, including Cannae Holdings, Inc. and certain THL limited partners, effective March 18, 2020. THL acquired a majority stake from J.C. Flowers & Co., LLC (“J.C. Flowers”), a leading private investment firm dedicated to investing globally in the financial services industry, and other investors.
As part of the transaction and effective immediately, the Board of Directors under J.C. Flowers retires, including the chairman, Timothy O. North. North provided decades of leadership and innovation for the company, including as the CEO until his retirement in January 2017, and then as Chairman of the Board of Directors. Scott R. Perry now assumes the role of both Chairman of the Board of Directors and CEO of AmeriLife.
“J.C. Flowers provided excellent stewardship and support for nearly 5 years, including prior board members Eric Rahe, Managing Director, and Sally Rocker, Managing Director, from J.C. Flowers, and John Walters, Outside Independent Member,” said Perry. “We look forward to our next chapter of growth with our new partner, THL, including AmeriLife board members, Ganesh B. Rao, Managing Director, and Ed Shahnasarian, Principal, at THL. THL brings expertise and resources that will help AmeriLife continue to accelerate our growth and add long-term, sustainable value to our organization.”
Source: Company Press Release