Lowenstein Sandler represented executives of Tranzact, a leading direct-to-consumer insurance services company, in the sale of Tranzact by Willis Towers Watson to private equity firm GTCR.
GTCR is investing in TRANZACT alongside Recognize, a technology services investment platform. The transaction values TRANZACT at $632.4 million.
Headquartered in Fort Lee, NJ, TRANZACT provides a full suite of capabilities across marketing and demand generation, sales execution, post-sales engagement and technology solutions. The business currently serves as the platform of choice for several large insurance carrier partners and is the agent of record for over one million active insurance policies across Medicare Advantage, Medicare Supplement and Life & Supplemental insurance markets.
GTCR and Recognize's investment will build on TRANZACT's strong performance and target areas of growth amongst its insurance carrier partners. Together, GTCR, Recognize and TRANZACT will implement a strategy to drive continued innovation, with additional capital available to help fund the expansion and enhancement of its services across this unique customer acquisition platform.
The Lowenstein team included Steven E. Siesser, Traci M. Tomaselli, Lesley P. Adamo, Megan Monson, Anita L. Chapdelaine, Dana Quinn, and Melissa K. Parres.
