BharCap Companions has concluded the acquisition of ARMStrong Receivable Administration, an insurance coverage and business B2B receivable administration firm.
The businesses didn’t disclose the monetary phrases of the deal.
ARMStrong focuses on offering receivable administration providers corresponding to audit and restoration of insurance coverage premiums, subrogation options, and detection and restoration of third-party deductibles, for insurance coverage enterprises.
With a clientele of greater than 3,000 clients, the corporate serves 22 out of the 25 main property and casualty insurers within the US.
Moreover, the corporate gives receivable administration options for company clients in numerous sectors together with know-how, transportation and enterprise providers.
ARMStrong CEO Mike Baldwin stated: “ARMStrong has grown to grow to be the main insurance coverage providers and B2B receivable administration agency in North America, delivering superior outcomes for our insurance coverage and business shoppers.
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“We’re excited in regards to the alternative to associate with BharCap to proceed to develop our platform.”
ARMStrong at the moment has vital dedicated funding obtainable for strategic takeovers because of the newest funding from BharCap.
BharCap co-founder and managing associate Bharath Srikrishnan stated: “Mike Baldwin and his crew have constructed a extremely differentiated service supplier for insurance coverage corporations and company shoppers.
“We hope to leverage our data and relationships inside the insurance coverage business to assist the crew proceed to develop the enterprise.”
A Greenwich-based non-public funding firm, BharCap Companions makes investments in enterprises within the monetary providers sector corresponding to insurance coverage distribution and insurance coverage providers, asset and wealth administration, and specialty finance, amongst others.