October 18, 2017

Willkie represents Assurant, Inc., a premier global provider of risk management solutions, in its deal to acquire The Warranty Group, a leading global provider of protection plans and related programs.

On October 18, Willkie client Assurant, Inc. (NYSE: AIZ), a premier global provider of risk management solutions, and The Warranty Group, a leading global provider of protection plans (and a portfolio company of TPG Capital), announced that they have entered into a definitive agreement to combine operations, with Assurant shareholders retaining majority ownership of the combined company. The transaction has an enterprise value of approximately $2.5 billion, including equity and debt.

The transaction, which is expected to close in the first half of 2018, will significantly advance Assurant’s strategy in the global lifestyle market with an attractive product and client portfolio, diversified growth profile and a deeper global footprint. With annualized revenue exceeding $1 billion (as of June 30, 2017), The Warranty Group will enhance Assurant’s scale and market presence in its vehicle protection, extended service contracts and financial services businesses across 35 countries. The resulting geographic footprint also will provide resources to accelerate Assurant’s mobile strategy in key markets such as Asia-Pacific.

Additionally, The Warranty Group’s U.S. vehicle protection business also brings new client partnerships and distribution channels including dealer networks and national accounts, and positions Assurant to capitalize on emerging trends in the auto market such as digital auto retailers.

New York-based Assurant is a Fortune 500 company with a market presence in 16 countries worldwide. Millions of consumers count on Assurant’s innovative products, services and support for major purchases like homes, cars, appliances, mobile devices and funerals. The Warranty Group, based in Chicago, is one of the world’s premier global providers of warranty solutions and related benefits, with operations in more than 35 countries and over 1,600 employees.