Clearlake Capital Group L.P. and Aurora Capital Partners-backed Zywave Inc. has acquired Insurance Technologies Corporation (ITC) from Accel-KKR.
The acquisition of ITC strengthens Zywave’s position in the insurance market. “We are excited to support the Zywave management team as they continue to execute on the buy-and-build strategy and drive significant value for both agencies and carriers in the insurance ecosystem,” say Clearlake partner Prashant Mehrotra and Aurora partner Josh Klinefelter. “The addition of ITC meaningfully expands the breadth and depth of Zywave’s P&C solutions, resulting in a significant increase in the company’s total addressable market.”
William Blair & Company is serving as financial advisor to Zywave. Raymond James is serving as financial advisor to ITC.