Axis Insurance Managers gets financial boost
Axis Insurance Managers has announced that it has received a ‘significant’ growth investment from funds managed by Lee Equity Partners, a growth oriented middle market investment firm specialising in investments in the financial services and healthcare industries.
The partnership with Lee Equity strategically positions Axis Insurance for long-term success and growth and complements the company’s existing shareholder base, it said. As part of the transaction, Axis Insurance founder and chief executive, Alex Meier, retained the majority of his equity stake in the company.
“Our team is excited to partner with a seasoned financial services investor with a deep understanding of the insurance industry” stated Alex Meier, Axis Insurance president & chief executive. “We have made great strides in building out an exceptional national business. The investment partnership with Lee Equity will provide an incredible opportunity to accelerate our growth and vision to be best-in-class in every category of our industry.”
“Axis Insurance is an emerging leader in specialty commercial insurance with an impressive track record of growth. There's great potential for the Company to become a leading, national broker in the Canadian market, said Mark Mauceri, partner, Lee Equity.
“We have been highly impressed with the thoughtful approach Axis Insurance has taken to building a market leading business, and we are excited to partner with Alex and the Axis leadership team to capitalize on the many opportunities ahead,” added Mark Gormley, Partner, Lee Equity.
Lee Equity and its principals have a track record of investing in the insurance sector, including investments in Captive Resources, McLarens, K2 Insurance, Simplicity Group, and Universal American, amongst others.
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