NEW YORK, March 20, 2017 (GLOBE NEWSWIRE) -- Stonybrook Capital, an affiliate of FINRA-member Weild & Co., acted as exclusive financial advisor to Prepared Holdings in connection with its sale to an investor group led by Lighthouse Property Insurance Corporation, chairman, Patrick White.
“Stonybrook was pivotal in advising us through the complete set of strategic alternatives available to our group and driving a transaction to a close,” said Oscar Garcia, Chairman of Prepared Holdings. Founded in 2009, Prepared Holdings is the holding company for Tampa, Florida based homeowners insurer Prepared Insurance Company. Prepared Insurance company is Demotech “A” rated carrier which provides homeowners insurance throughout Florida and in Louisiana. The transaction closed on March 10th, 2017.
“This transaction brings incremental resources, capital, and leadership, which will enable Prepared to continue to build its well established agency-driven franchise in a consolidating Florida homeowners market.” said Bill Yankus, of Stonybrook Capital. "We feel this transaction is a great of example of us working hand-in-glove with our clients to help them achieve their preferred outcome," said Joseph Scheerer, Principal and Managing Director of Stonybrook Capital. “Florida, and coastal state homeowners in general, are a huge and key strategic focus for our firm. We have completed numerous assignments in this sector since founding our firm almost five years ago. Further, we expect the activity to only increase and we are poised to play a major role.” Scheerer continued.
Stonybrook Capital is a merchant and investment banking firm located in New York City that focuses exclusively on the insurance and reinsurance industry. The Company’s shareholders include its employees, a renowned individual from the reinsurance industry, and the fifth largest reinsurance intermediary in the country named HOLBORN Corporation, which was founded in 1920 and prides itself in its independence and exceptional client service.
Securities transactions are executed through Weild & Co., member FINRA | SIPC. For more information, visit our website: www.stonybrookcapital.com