Private equity firm Thomas H. Lee Partners, L.P. (THL) andFrench-owned Sword Group announced they have signed an agreementunder which THL will acquire Sword Insurance, a provider ofsoftware and services to the property/casualty insurance industry,from Sword Group. The transaction is expected to close next month,subject to regulatory approvals. Additional terms of thetransaction were not disclosed.

“We are very proud of the leadership position we’ve establishedin both the US and the UK,” says Steve Hauck, co-CEO of SwordInsurance. “Much of our expanded geographic footprint, growingcustomer base, and diversified product set is attributable to SwordGroup’s support over the last year and a half. We are excited topartner with THL, a firm with a proven track record in bothinsurance and technology and deep experience in helping companiesaccelerate growth through providing exceptional service. THL willsupport us in realizing our vision to support a greater portion ofour customers’ complex technology needs as we strive to become atop 5 global technology vendor."

“Sword Insurance’s leading products, AgencyPortal and Open+, arebest-in-class products and integral components of an insurancecarrier’s technology solution. We believe that there is an enormousmarket opportunity available through continued investment incustomer service and expanded product solutions to meet insurancecarriers’ evolving technology needs,” says Charles A. Brizius,managing director at Thomas H. Lee Partners.