May 16, 2008 – Evercore acquires majority stake in Bollinger Inc.
Evercore Toasts Bollinger
May 16, 2008; Evercore Capital Partners has bought a majority stake in insurance
broker Bollinger in a deal valued at $250 million, The Daily Deal reported citing
Bollinger provides commercial insurance and benefits to medium-sized businesses and
to public sector organizations. It also supplies specialty insurance programs to amateur
sports associations and golf and country clubs. Its annual revenues are slightly more than
Evercore Capital spent nine months in negotiations with Bollinger, using Mystic
Capital Advisors, LLC as its advisor for the transaction.
Madison Capital Funding provided the senior debt, while AEA Investors‘ AEA
Mezzanine Fund supplied the junior tranche.
Source: The Daily Deal, The New York Times