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January 07, 2020 at 05:37 PM
An investor group led by Thomas H. Lee Partners L.P., a private equity firm, has agreed to buy a majority stake in AmeriLife Group LLC from another private equity firm, J.C. Flowers & Company LLC, AmeriLife announced today..
(Related: Life and Annuity Distributor Arranges $395 Million in Financing)
AmeriLife is a Clearwater, Florida-based life, health and annuity distributor that has relationships with about 140,000 insurance producers and advisors and 20 marketing organizations.
AmeriLife says it has entered into a recapitalization agreement with the Thomas H. Lee investor group.
The transaction should close by about March 31, according to AmeriLife.
The parties are not saying how much Thomas H. Lee expects to pay.
AmeriLife’s History
Gary Boesch founded AmeriLife founded in 1971. Private investors bought the company in 2007. J.C. Flowers acquired control in 2015. Between 2015 and 2018, J.C. Flowers helped AmeriLife issue about $7.7 million in stock, according to notices filed with the U.S. Securities and Exchange Commission.
AmeriLife reported in June that it had replaced old credit facilities with new credit facilities that could provide up to $395 million in financing.
AmeriLife announced in July that it was buying a majority stake in Brookstone Capital Management, and it announced in December that it had agreed to buy Agent Support Group Inc.
Scott Perry is AmeriLife’s chief executive officer.
The Thomas H. Lee Investor Group
Thomas H. Lee is based in Boston and was founded in 1974. It has helped companies raise about $25 billion in equity capital.
