Avance Investment Management, a private equity firm that invests in growing middle market services and consumer businesses, has made an investment in UniVista Insurance, an independent, family-owned and operated franchisor of insurance-related products and services.
Avance was established in 2020 by co-founders, David Perez, Luis Zaldivar and Erik Scott. Targeting founder-owned, middle market businesses in the services and consumer sectors, Avance seeks to partner with businesses that have scalable business models in fragmented sectors with consolidation and growth opportunities.
“We are thrilled to announce Avance’s second platform investment – UniVista – which fits squarely into our investment strategy of partnering with visionary founders and talented management teams in the services and consumer sectors,” said Perez. “We are eager to leverage our industry relationships and knowledge of building technology-enabled businesses to help the Company strategically expand across the country to reach more consumer markets.”
“UniVista is a proven insurance platform, with a targeted customer base in Florida that is gaining significant market share,” said Zaldivar. “The Company has a strong management team, highly scalable business model and track record of executing a pipeline of growth initiatives. With Avance’s experience guiding companies through transformative growth utilizing our deep network and collaborative approach, we have strong conviction in our ability to partner with the management team and help grow UniVista into a national leader reaching the Hispanic market outside of Florida.”
“Over the last few years, UniVista has grown sales more than three hundred percent with more than 100 locations throughout Florida; we are confident that now is the right time to partner with an investor as experienced as Avance who shares our vision,” said Mr. Herrera. “Avance’s experience will help us to continue on this upward trajectory and expand our offerings through organic and inorganic growth in Florida and beyond. Avance’s team has a long history of partnering with founder-owned businesses, and we know that David, Luis and the entire Avance team will bring tremendous value to UniVista, helping us take the Company to the next level.”
“Today’s announcement is an exciting next step for the UniVista team who has worked incredibly hard to get to where we are today,” said Luis Castro, president and chief operating officer of UniVista. “UniVista provides quality products, superior customer service, and highly competitive rates to customers throughout Florida, and we are excited to expand our offerings with the support of the talented Avance team who has a passion for helping strong businesses meet their full potential.”