(Bloomberg) -- THL Partners has agreed a deal to acquire a majority stake in forensic consulting firm YA Group.
The deal by the leveraged buyout pioneer will see YA’s management, employees and existing backer CIVC Partners retain significant ownership positions, according to a statement Thursday that confirmed an earlier Bloomberg News report.
Financial terms of the transaction weren’t disclosed.
Founded in 1997 as a property damage consulting firm, YA — known as Young & Associates until a re-branding — provides forensic consulting, engineering and risk mitigation to global insurance and claims services firms.
“YA has an incredibly strong value proposition,” Ed Shahnasarian, a managing director in THL’s financial technology and services team, said in an interview. “The skills and expertise required are high and not replicable by insurance carriers themselves, and require a third-party to come in and be independent.”
Shahnasarian said YA is expected to continue to expand its geographic coverage and enter new disciplines in areas including forensic accounting and environmental health and safety under THL’s ownership.
Complex claims consultants like YA serve as support lifelines to global insurance carriers that rely on highly skilled human capital to assess damage, causation and liability across a variety of disciplines.
“YA is all about people. They’re the lifeblood of this business,” Shahnasarian said. “Success for us is being able to say in five years that the company’s culture is as strong as it is today, while helping the firm to grow into new disciplines and white spaces.”
Other recent deals completed by THL include the buyouts of medical equipment provider Agiliti Inc. for $2.5 billion, including debt, and fund administrator Standish Management LLC for $1.6 billion, including debt.
Piper Sandler & Co. and Ropes & Gray LLP advised YA Group, while Waller Helms Advisors LLC, Kirkland & Ellis LLP and Paul Weiss Rifkind Wharton & Garrison LLP advised THL.
©2024 Bloomberg L.P.
