Clayton, Dubilier & Rice (CD&R) has signed an agreement to acquire the US-based Tranzact for an undisclosed sum.
Tranzact provides direct-to-consumer sales and marketing solutions for insurance carriers in the US.
The company provides solutions to carriers seeking to acquire and manage customers in three insurance verticals, including health, life, property and casualty (P&C) or auto.
Tranzact includes two firms, comprising of Cignium and TZ Insurance Solutions.
Cignium provides software and services for the customers to manage their insurance marketing and sales operations.
TZ Insurance Solutions is a digital insurance agency that offers end-to-end customer acquisition solutions for insurance brands in America.
It executes the marketing, lead generation, sales and case management operations, which help convert potential customers into policyholders.
CD&R partner David Wasserman said: "Our investment in Tranzact represents a compelling opportunity to back a market leader with a talented management team, significant first-mover advantage, superior technology platform and unique competitive position."
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."
Image: Clayton, Dubilier & Rice to acquire Tranzact, which provides direct-to-consumer sales and marketing solutions for insurance carriers. Photo: courtesy of Chaiwat / FreeDigitalPhotos.net.