Ryze Claim Solutions to be Recapitalized by Bain Capital Insurance
Ryze Claim Solutions entered a definitive agreement to be recapitalized by Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital.
Following the transaction, Ryze will be majority-owned by Bain Capital Insurance with members of the management team and select individuals, including VJ Dowling, Dave Delaney, and Stuart Myers, retaining a meaningful ownership stake in the business. Ryze will continue to operate under its current management team led by Executive Chairman Tony Grippa, and President Scott St. John.
The transaction is subject to customary approvals and other closing conditions. Debt financing for the transaction is being provided by Apogem Capital and includes a committed facility to support the company’s strategic acquisition growth strategy.
Bain Capital Insurance was advised by Kirkland & Ellis and Waller Helms. Ryze was advised by McDermott, Will & Emery, and Dowling Hales.
Ryze is a provider of residential and commercial claims management services to the insurance carrier, hybrid or fronting carrier, and managing general agent markets.
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