U.S. private equity firm Genstar acquires Granite Global Solutions

Genstar Capital LLC, a middle-market private equity firm based in San Francisco, has acquired Granite Global Solutions, a Canadian provider of risk mitigation services to insurance and corporate clients.
The terms of the deal were not announced.
Granite Global operates five business lines:
•McLarens Canada, a niche independent claims adjuster;
•Sibley & Associates, a disability management company;
•King Reed & Associates, a private investigation company;
•Henderson Structured Settlements, one of only two national structured settlement companies; and
•Rochon Engineering, a specialized forensic engineering business.
“We are very pleased to be partnering with Genstar, who have a recognized history of investing in Canada and are very knowledgeable about the insurance industry,” Granite CEO Murray Wallace said in a press release. “We will continue the integration of Granite’s business operations, invest to grow each division and look to develop new ways to serve our customers with integrated products.”
Genstar has more than $3 billion in capital invested in selected segments of the life science, health care services, software, financial services and industrial technology industries.
Genstar has also developed sector expertise in the insurance services industry. Its key operating partners and strategic advisory board members include: Dennis Chookaszian, former CEO of CNA Insurance, Bob Dowdell, former CEO of Marshall & Swift and David Wroe, former CEO of AMS (now Vertafore).