Integro Ltd. to be acquired by Odyssey Investment Partners

Entities affiliated with Odyssey Investment Partners, LLC have come to an agreement with Integro Ltd. to acquire the international insurance brokerage and risk management firm for an undisclosed amount.

The move will position Integro – the company and its family of specialty insurance and reinsurance companies operate from more than 40 offices in the United States, Canada, Bermuda and the United Kingdom – for continued growth, notes a joint statement from Integro and Odyssey Investment Partners.

Having a significant international presence, Integro in recent years has been actively building its specialty areas, including healthcare, entertainment, professional services, aviation, energy, trade and logistics, reinsurance and benefits consulting in the U.S., Canada and internationally, the statement notes.

“Integro is an extraordinary success story, and we are committed to supporting its continued development, particularly around its specialty offerings,” says Jeffrey McKibben, a managing principal of Odyssey Investment Partners, a private equity investment firm that makes majority-controlled investments in industries with a long-term positive outlook and favourable secular trends.

“We are enthusiastic to invest in and partner with Integro’s management team,” McKibben notes in the joint statement, “and share their strategic vision for their business and its focus markets.”

“Odyssey is an ideal partner as we build on the powerful platform our early investors helped us put in place. Odyssey’s resources and industry expertise will help accelerate the growth trajectory of our core business and specialty acquisitions,” suggests Integro president William Goldstein.

Expected in the fourth quarter of 2015, completion of the transaction is subject to customary closing conditions for the acquisition of an international insurance brokerage and risk management company, including antitrust regulatory approval and approval of the U.K. Financial Conduct Authority.

The Integro management team will remain in place, with certain members of the team and other employees remaining shareholders in the company.