Acrisure LLC, one of the country’s biggest insurance brokerages, is considering a sale that could potentially value the brokerage at almost $2 billion, including debt.
Genstar Capital LLC, the owner of Acrisure, tapped investment bank Evercore Partners to handle the auction of the company, according to an anonymous source that tipped Reuters of the confidential transaction.
The anonymous source also revealed that Acrisure generates annual earnings of $164 million—before interest, taxes, depreciation, and amortization.
Both Genstar and Acrisure have declined to comment on the pending auction.
Genstar acquired Acrisure in 2013 for an undisclosed sum.
Acrisure offers its insurance coverage products across 23 states, serving a variety of sectors. Based on data from Moody’s Investors Service, the company delivered $231 million in revenue for the 12 months through September 2015.
