TigerRisk sells stake to private equity firm
Posted On: Apr. 22, 2020 8:22 AM CST
TigerRisk Partners LLC has sold an unspecified stake in the reinsurance brokerage to private equity investment firm Flexpoint Ford LLC, the firms announced Tuesday.
Rod Fox, CEO and co-founder of Stamford, Connecticut-based TigerRisk, will remain CEO, and Rob Bredahl will remain president, according to a statement. James Standard, chairman and co-founder of TigerRisk, will step down after the deal closes but will remain a smaller shareholder of the firm, a TigerRisk spokesman said.
The size of the stake being sold and the terms of the deal were not disclosed. “Current employees will remain significant shareholders in the company,” the statement said.
TigerRisk was founded in 2008. Private equity firm Aquiline Capital invested in the firm in 2009 and sold its stake in 2012. The brokerage has about 200 employees and 10 offices.
Chicago-based Flexpoint Ford invests in a variety of industries. Its other insurance investments include Propel Insurance Holdings LLC, a Tacoma, Washington-based agency.