ABRY Partners is to sell its equity interest in NSM Insurance Group to a subsidiary of American International Group.
ABRY has been invested in NSM, a national leader in the development, marketing, and underwriting of industry-specific insurance programs, as well as an industry leader in the Wholesale Brokerage arena, since January of 2012.
"ABRY has been a great partner," says Geof McKernan, President and CEO of NSM. "Their support has helped make NSM a better organization and we have enjoyed working with them over the past three years."
"It has been our pleasure to work with Geof and the world-class team at NSM," said Brent Stone, a partner at ABRY Partners. "We have been pleased with NSM's performance says our ownership and see a long future of continued growth for the company."
WilmerHale acted as legal advisor to NSM in the transaction.
