BlackRock Alternatives, through its Long Term Private Capital strategy, has acquired a majority interest in Alacrity Solutions Group LLC, an insurance claim management services provider in North America.
Alacrity offers outsourced services to U.S. insurance carriers, providing services across the claims lifecycle, including field and desk adjusting, temporary housing, auto services, managed repair services and desktop review. The company has a presence in all 50 states and processes over 2.8 million claims annually on behalf of over 300 carrier clients. Alacrity’s prior majority investor, Kohlberg & Company, and management will retain a significant minority interest in the company.
“BlackRock LTPC has an exceptional reputation as a collaborative partner to the management teams of its portfolio companies, and I am looking forward to working with them to expand the capabilities we provide to our valued clients,” says Jim Pearl, CEO of Alacrity Solutions. “BlackRock LTPC is the ideal partner to accelerate Alacrity’s position as the preeminent platform for outsourced insurance claims solutions in North America given our shared vision and alignment.”
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.