J.C. Flowers & Co., LLC, a private investment firm dedicated to investing in the global financial services industry has made a strategic investment in TRICOR Insurance, a nationwide business insurance, employee benefits, personal insurance and individual life and health independent insurance agency.
TRICOR has more than 40,000 clients across Wisconsin, Iowa and the Midwest. The investment will be focused on accelerating the company’s growth both organically and through further acquisitions.
“TRICOR has an excellent industry reputation and a strong company culture, and we see tremendous opportunity for TRICOR to expand its operations throughout the Midwest,” said Eric Rahe, Managing Director of J.C. Flowers.
“By pairing the diverse skills of J.C. Flowers alongside TRICOR management’s industry expertise, we know we will achieve our mission of being the employer of choice, as well as the insurance agency of choice, throughout the upper Midwest,” added Dave Fritz, CEO of TRICOR.
Dowling Hales acted as financial advisor to TRICOR in the transaction. Godfrey & Kahn and Foley & Lardner served as legal advisors and Honkamp & Krueger served as a business advisor to TRICOR.