Chicago-based private equity firm CIVC has disposed of underwriter of vehicle service contracts GWC Warranty (GWC) to Stone Point Capital.
Further terms of the transaction have not been disclosed.
Headquartered in Wilkes-Barre, Pennsylvania, GWC sells its products through an in-house sales force as well as strategic partnerships with independent agents and finance companies.
It markets its products and services through a base of over 3,000 dealers in approximately 40 states.
William Blair acted as financial advisor and Freeborn & Peters worked as legal advisor to GWC, pertaining to the transaction.
Investing equity capital in high growth companies, CIVC manages more than $1.3bn in private equity funds and focuses on companies operating within the business services and financial services industries.
Stone Point Capital operates as a private equity firm, which makes investments in businesses within the global financial services industry.