Thomas H. Lee Partners, a private equity firm investing in growth companies, acquired a majority stake in Insurance Technologies, a Colorado Springs, CO-based provider of sales and regulatory automation solutions for the insurance and financial services industries.
NexPhase Capital, LP, an operationally-focused private equity firm and sub-advisor to the Moelis Capital Partners Opportunity Funds, was the seller in the transaction, whose amount was not disclosed.
The deal is subject to the completion of customary closing conditions and any regulatory approvals.
InsTech will continue to be led by its Chief Executive Officer, David Fenimore and the other members of its senior management team.
With the investment, the company will continue its investment in technological innovation, speed to market delivery, and building a SaaS cloud-based product suite.
Founded in 1995, Insurance Technologies provides sales and regulatory automation solutions to the insurance and financial services industry. Offering a suite of integrated sales solutions, from pre-sale functions to illustrations and e-application to post-sale services, the company provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across all lines of insurance, retirement and investment products.