Warner Pacific (the “Company”), a leading employee benefits-focused General Agency with locations in California, Colorado and Texas, announced they have entered into a partnership with Lovell Minnick Partners LLC, a private equity firm focused on investments in financial services, financial technology and related business services companies.
Founded in 1982, Warner Pacific provides sales assistance, back-office support and a full suite of benefit administration products and tech-enabled services to insurance agents, principally focused on the small group, large group and Medicare health insurance markets. This new investment will help fuel Warner Pacific’s organic growth and M&A strategies in new and existing geographies while providing the Company with support as it scales. M&A will be a key focus for Warner Pacific as it builds out its national General Agency platform, acquires other leading insurance technology players and expands into new insurance coverages and service offerings beyond its suite of proprietary technology solutions. John and David Nelson will continue to lead the Company as Co-CEOs with the same team of employees and leadership supporting Warner Pacific’s next phase of growth.
“Warner Pacific has built a strong reputation as a dependable, best-in-class benefits General Agency specializing in medical and ancillary benefits in California, Colorado and Texas,” said Trevor Rich, Partner at Lovell Minnick. “We believe that Warner Pacific has the scale, platform and management team to become a leading national General Agency under the leadership of John and Dave Nelson, and we are excited to help them execute on their M&A strategy.”
“Here at Warner Pacific, we pride ourselves on being a high-tech and high-touch partner for our clients,” said John Nelson, Co-CEO of Warner Pacific. “As such, it was extremely important for our team to find a capital partner who shares our family-oriented values, entrepreneurial spirit and focus on innovation. It takes a unique partner to understand the type of service brokers need and that we offer, and Lovell Minnick is a great cultural fit with our team.”
“Lovell Minnick has unparalleled experience collaborating with companies in the insurance sector to achieve their growth goals,” added David Nelson, Co-CEO of Warner Pacific. “We are thrilled to partner with Lovell Minnick as we pursue M&A to expand our geographic reach, enhance our product offerings and further invest in our PRO Suite technology. We’ll do this while continuing to provide the exceptional service that Warner Pacific is known for.”
MarshBerry acted as financial adviser and Sheppard Mullin acted as legal counsel to Warner Pacific. Keefe, Bruyette & Woods acted as financial adviser and Schulte Roth & Zabel acted as legal counsel to Lovell Minnick Partners.