Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials, and software industries, today announced that it has reinvested out of its most recent fund in Association Member Benefits Advisors, a national affinity-based membership and marketing insurance agency, in partnership with AMBA’s management team.
Ryan Clark, president and managing director at Genstar Capital, said, “AMBA is the only established player in the retired teacher and public employee association market, and is well positioned to participate in the broader senior market. The company has performed extremely well since our acquisition in 2016, including the recent global pandemic. We are enthusiastic about the untapped opportunities to achieve continued organic growth and to expand the business dramatically via targeted acquisitions. We are excited to continue our partnership with Steve Cardinal and his senior management team to capture AMBA’s full potential.”
Steve Cardinal, CEO of AMBA, said, “Together with Genstar we have built AMBA into a provider of high-quality benefits and outstanding services to our association clients, insurance carriers, and exclusive agents. We have scaled the business organically and completed five strategic acquisitions that position us as a key partner with associations and their members. The growth prospects for AMBA are bright, both within our existing core markets and by developing new association relationships, as well as capitalizing on sizeable adjacent markets and product lines, including Medicare and annuity products. I thank our incredible employees and network of benefit specialists that are focused on serving our associations and their members. We look forward to working together to build our business in all 50 states.”