Private equity firm Acuity Investment has released a proposal to acquire a Pro Global Insurance Services company, subject to shareholder and regulatory approval.
The company, Pro, provides consulting and operational outsourcing in the insurance and reinsurance markets. As part of the proposed acquisition, there are no planned changes to Pro management and teams.
According to Pro, the acquisition will provide the company with “long-term financial stability and eliminates long-term debt”. It is also intended to provide a simpler corporate structure, allowing for more effective governance and better responsiveness to client needs.
Once the transaction has closed, Pro Global Insurance Services will retain its investment in Asta Capital, and will be renamed.
Artur Niemczewski, CEO of Pro, said: “Our priority in 2017 is the continued implementation of Pro’s ‘client first’ strategy with a single-minded commitment to client service.”
He added: “The acquisition by Acuity will provide Pro with the investment necessary to pursue this objective. The Pro team is very excited about the prospects, long term stability and financial strength this acquisition will bring to us.”
Adam Barron, founding partner and managing partner at Acuity, said: “Acuity aims to invest in strong businesses, like Pro, with outstanding management and good market positions in well-established areas of financial services.”
