NEW YORK, NY--(Marketwired - Mar 9, 2015) - Stonybrook Capital served as exclusive financial advisor to Nations Builders Insurance Services (NBIS) in the sale of AutoTex MGA by NBIS to Safe Auto Insurance Group, Joseph Scheerer, Principal and Managing Director of Stonybrook, announced.
Based in Columbus, Ohio, Safe Auto is a leading provider of minimum-limit auto insurance for drivers in 17 states. Dallas-based AutoTex is a managing general agency that provides specialty auto insurance products through independent agents in Arizona, Arkansas, Nevada, and Texas. AutoTex's parent company, NBIS provides risk management solutions and insurance to the heavy construction industry.
"Stonybrook Capital's expertise and market awareness were crucial to structuring and completing this transaction," said Bill Tepe, President of NBIS.
"We were pleased to act as sell-side advisor to NBIS," Scheerer said. "The acquisition of AutoTex provides Safe Auto a significant expansion of its distribution system to reach customers who do business through independent agents and helps NBIS focus on their core business."
Stonybrook Capital is a strategic advisory and investment banking firm located in New York that specializes exclusively on the insurance and reinsurance industry. The Company advises clients on buy-and-sell-side mergers and acquisitions, restructuring, valuation, market finding and analysis of strategic alternatives, among others.
Contact Information:
Corporate contact:
Ravi Arps
Vice President, Stonybrook Capital
860-301-6595
Media contact:
Mechlin Moore
MDM Communications
239-777-1595