Odyssey Investment Partners, LLC said it has agreed to acquire Parsippany, N.J.-based York Insurance Services Group Inc., an outsourcer of specialty claims management to niche market segments of the property-casualty insurance industry throughout the United States.
Odyssey is a New York-based middle-market private equity fund with more than $1.2 billion under management.
Thomas Winmill, president and chief executive officer of Bexil Corp.–the holding company for York Insurance Services–said the sale involved $39 million in cash. Odyssey said the total transaction value–including the assumption of debt, rollover shares and management investment–would be approximately $105 million.
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