Waterfall Asset Management LLC, SEC-registered investment adviser, and Atalaya Capital Management, a private-held SEC-registered alternative investment advisory firm, have made a strategic investment in OnPoint Warranty Solutions LLC, an insuretech, mobile services and warranty services company.
The investment from Waterfall and Atalaya supports the acquisition of Guardian Protection Products Inc., and provides additional growth capital for OnPoint to drive mobile and warranty product development, as well improve its proprietary insurance technology platform: Service Avenger.
“This investment and the Guardian acquisition will support our ongoing investment in people, products, and technology such that OnPoint can support its customers’ continued growth and customer warranty experience initiatives,” comments Rob Christian, president and CRO of OnPoint. “With the addition of Guardian, its’ management team, and its’ retail acumen, we are best equipped to serve retailers in North America and beyond. Guardian’s deep relationships in US-based retail organizations and the proprietary, retail-oriented administration technology, enables OnPoint to catapult the development of Service Avenger, particularly for the global e-commerce segment of our business.”
Mayer Brown LLP served as legal counsel to Waterfall. Orrick, Herrington & Sutcliffe served as legal counsel to Atalaya. Bevilacqua PLLC served as legal counsel and Capstone Partners served as financial advisor to OnPoint. Calfee, Halter & Griswold LLP served as legal counsel and Houlihan Lokey served as financial advisor to Guardian.