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Transactions / I•••••••• T••••••••• C•••••••••

Clearlake Capital And A••••• Capital-Backed Z••••• Acquires I•••••••• T••••••••• C••••••••• (ITC)

Exit to a strategic buyerclosedannounced Jan 6, 2021closed Jan 6, 2021Fact
What happened
Platform
not an add-on on record
Control
unknown
Share acquired
unknown
Industry
financial_services / insurance
Target location
TX, US
Seller kind
Sponsor
Rollover
unknown
Values, only where disclosed
Enterprise value
Not disclosed
Purchase price
Not disclosed
Equity value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
Multiple
Not disclosed
Parties and roles
7 named
Buy side
  • Z•••••• I•••Strategic acquirerconfirmed
    Z•••••• I••• ("Z•••••"), the leading provider of front-office distribution SaaS solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and A••••• Capital Partners ("A•••••"), today announced that it has completed the acquisition of I•••••••• T••••••••• C••••••
Sell side
Advisory side
  • W•••••• B•••• • C••••••• L•••••Buy-side adviserconfirmed
    W•••••• B•••• & Company served as financial advisor to Z•••••.
  • R•••••• J•••• L•••Sell-side adviserconfirmed
    R•••••• J•••• served as financial advisor to ITC.
Side not stated
  • J•••• L••Managementconfirmed
    "Z••••• and ITC share numerous synergies, including the same overarching goal, which is to provide the absolute best tech solutions to help insurance professionals succeed in the modern marketplace," said J•••• L••, CEO of Z•••••.
  • The combination of the two companies creates the undisputed leader in front-of-office technology solutions for the insurance industry," said L•••• R••••••, CEO of ITC.
  • Z•••••• I••• ("Z•••••"), the leading provider of front-office distribution SaaS solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and A••••• Capital Partners ("A•••••"), today announced that it has completed the acquisition of I•••••••• T••••••••• C••••••
Evidence
Z•••••• I••• ("Z•••••"), the leading provider of front-office distribution SaaS solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and A••••• Capital Partners ("A•••••"), today announced that it has completed the acquisition of I•••••••• T••••••••• C••••••••• ("ITC"), a leading provider of marketing, rating, and agency management software solutions to the insurance industry, from Accel-KKR.