Confie Seguros has the financial strength and professional resources needed to accomplish its aggressive growth strategy as a platform company to consolidate insurance brokerages primarily focused on the Hispanic consumer.

Confie Seguros has recently obtained a significant capital commitment from Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of the life sciences and healthcare services, industrial technology, business services and software services.  Confie Seguros recently announced its first investment in Westline Corporation, one the largest distributors of non-standard auto insurance products operating from 30 retail branches throughout California.

In the next three years, Genstar and the Confie Seguros management team, led by experienced insurance brokerage CEO John Addeo, look to build a national distribution company with revenues exceeding $300 million, focusing on key markets including, but not limited to, California, Arizona, Florida, Texas, Georgia, and Nevada. Funding for future acquisitions will be provided by a commitment from Genstar and management of $75 million and a bank facility with expected capacity in excess of $200 million.

 

“This new investment is consistent with our strategy of partnering with high caliber management teams and investing in quality platform companies that operate in attractive markets with consolidation opportunities to build strong companies.  We have been working with the management teams of Confie Seguros and Westline to refine the business plan and ensure that the company is properly structured and capitalized to achieve our strategic objectives.  We look forward to working with John Addeo and his team, and the successful principals of Westline as we build Confie Seguros.”

 

“The attractive growth dynamics of this market and the new business opportunities will enable us to build the first national insurance brokerage with an emphasis on Hispanic consumers.  Confie Seguros is also positioning to offer a variety of additional insurance and financial services products to the underserved Hispanic community.  We look forward to our new partnership with Westline and Genstar, whose financial support and experience building businesses will be instrumental as we accelerate our growth.” 

 

John Addeo, Confie Seguros CEO