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GTCR-backed AssuredPartners top suitor for Evercore’s Bollinger

7 Feb 2013

chicago-3_sqChicago-based buyout house GTCR’s brokerage platform AssuredPartners has been singled out as a top suitor for Bollinger, the insurance broker owned by boutique investment bank Evercore Partners.

The private equity-backed consolidator is one a number of parties that are expected to tabled offers for the Short Hills, New Jersey-based company, which could fetch as much as $400m, Bloomberg reported, citing unnamed sources.

Bank of America Corp was mandated last year to find buyers for the business, which offers insurance to colleges, amateur sports leagues and country clubs, the report said.

Lake Mary, Florida-based AssuredPartners is the fifteenth-largest US broker by revenue and has made more than two-dozen acquisitions, the report added.

Bollinger is the twenty-second biggest US broker and has made more than a dozen bolt-ons since selling a controlling stake to Evercore in 2008.

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