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.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.