Thomas H Lee Partners has signed a definitive agreement to acquire Sword Insurance, a provider of software and services to the property and casualty insurance industry, from Sword Group. The transaction is expected to close next month, subject to regulatory approvals. Additional terms of the transaction have not been disclosed.
“We are very proud of the leadership position we’ve established in both the US and the UK,” says Steve Hauck, Co-CEO of Sword Insurance. “Much of our expanded geographic footprint, growing blue chip customer base and diversified product set is attributable to Sword Group’s support over the last year and a half. We are excited to partner with THL, a firm with a proven track record in both insurance and technology and deep experience in helping companies accelerate growth through providing exceptional service. THL will support us in realising our vision to support a greater portion of our customers’ complex technology needs as we strive to become a top 5 global technology vendor."
Charles A Brizius, Managing Director at Thomas H Lee Partners, says: “Sword Insurance’s leading products, AgencyPortal and Open+, are best-in-class products and integral components of an insurance carrier’s technology solution. We believe that there is an enormous market opportunity available through continued investment in customer service and expanded product solutions to meet insurance carriers’ evolving technology needs."
