Oracle Insurance is invested in by Abry Partners
Canada-based Oracle Insurance Risk Management Services (Oracle RMS) secures investments from US-based private equity company Abry Partners.
Financial details of the transaction remain undisclosed.
Since its founding in 2011 by John Ferraro and Michael DiNardo, Canada’s Insurance Broker has served an over 60,000 customer base through its workforce, which includes nearly 40 branches and more than 300 insurance professionals.
The company offers both commercial line and personal insurance to corporate clients, including automobiles, automotive, life and group benefits.
Ferraro said: “The partnership with Abry Partners marks an exciting new chapter for Oracle RMS. Abry’s investment is a vote of people’s exceptional talent, the strength of a proven business model, and a strong confidence in the long-term vision for growth across Canada.”
The Oracle RMS Leadership Team holds stakes in “significant” equity, and existing management teams continue to operate the business.
This transaction was advised by KPMG Corporate Finance and served as the exclusive financial advisor to Oracle RMS.
Principal Abree David Conneway said: “We were very impressed with Oracle RMS as a business, but even more impressed with its people and culture. The company combines the passion for embodying the client-first spirit and entrepreneurship, embodying the long-defined, excellent brokers and meeting the evolving needs of the precious insurance market.
Known for its specialization in the insurance distribution sector, Abry Partners has a history of supporting retail brokerage platforms across North America.
November 2024, Abry Partners and BHMS Investments Innovisk Capital Partners sold Specializing in Ryan.
“Oracle Insurance is Invested by Abry Partners” was originally created and published Life Insurance Internationala brand owned by GlobalData.
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