Michelman & Robinson Closes Acquisition Transaction between Confie Seguros and Cost-U-Less InsurancePDF
Michelman & Robinson, LLP’s (“M&R”) Corporate & Securities Department successfully closed a transaction in which Confie Seguros, the nation’s premier insurance distribution company serving the Hispanic community, acquired Cost-U-Less Insurance on October 1, 2010.
As highly experienced professionals in corporate acquisitions, Confie Seguros retained M&R to assist the insurance distributor in broadening its presence within California by acquiring one of the state’s leading providers of non-standard auto insurance. With its acquisition of Cost-U-Less, Confie Seguros continues to build its portfolio of regional auto insurance brokerages and expands its retail locations to over 150 centers throughout California.
Led by partner Sanford L. Michelman and with assistance from partners Mark B. Robinson and Dana A. Kravetz, M&R formed a seasoned team of attorneys to favorably close this complex transaction. Utilizing a cross-disciplinary approach, M&R diligently constructed a deal that met the business needs of Confie Seguros and its private equity partner, Genstar Capital, LLC, and lender GE Business Financial Services, Inc.
“I have worked with M&R for years and I can always count on them to get the deal done on time and in an expert and efficient matter, no matter how complex the transaction is,” said John Addeo, CEO of Confie Seguros.