Blackrock’s Alts Arm Invests in Insurance Claims Management Provider Alacrity Solutions
BlackRock Alternatives, through its Long Term Private Capital (LTPC) strategy, has acquired a majority stake in Alacrity Solutions Group, an insurance claims management services company, from Alacrity’s prior majority investor, private equity firm Kohlberg & Company, for an undisclosed amount.
Fishers, IN-based Alacrity Solutions provides outsourced solutions to US insurance carriers. Its services include field and desk adjusting, temporary housing, specialty and auto solutions, managed repair services and desktop review.
With a presence in all 50 US states, each year, the company processes over 2.8 million claims on behalf of more than 300 insurers.
“Alacrity Solutions has established itself as a differentiated market leader in the fast-growing outsourced claims solutions space, with long-tenured customer relationships and an impressive history of growth,” said And.ré Bourbonnais, Global Head of BlackRock Long Term Private Capital.
Alacrity Solutions is BlackRock LTPC’s seventh investment to date and its fifth investment in North America.
BofA Securities acted as financial advisor and Simpson Thacher & Bartlett LLP acted as legal advisor to BlackRock LTPC. Evercore and Waller Helms Advisors acted as financial advisors, and Ropes & Gray acted as legal advisor to Alacrity Solutions and Kohlberg.
