Odyssey Investment Partners, a private equity firm with a focus on insurance services, has agreed to acquire Strategic Insurance Agency Alliance, a national alliance of independent insurance agencies.
SIAA’s chairman and founder, Jim Masiello said, “We’ve been exploring our perpetuation options for some time now, with special consideration to the ongoing success of our master agencies and member agencies across the country. This transaction provides for the continued success of our model and all who participate in it.”
Matt Masiello, CEO, will continue to lead the organization along with the rest of the SIAA management team. He commented, “This transaction sets the stage to take our business to the next level based on our proven model. We’ve had great success as the original and largest network of independent insurance agencies in the country, and now we will have the resources to move forward more decisively in M&A, technology and investing in other growth initiatives.”
Jeff Moffett, managing principal at Odyssey, stated, “We are excited to partner with Matt and his team to invest in and accelerate the growth of SIAA and the independent agent channel. Building on the decades of success Jim, Matt and the SIAA team have achieved, we share a common vision for the potential of SIAA and its alliance partners.”
Goldman Sachs & Co. LLC served as exclusive financial advisor to SIAA on the sale while Odyssey was advised by Piper Sandler.