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Freeborn Drives Into M&A Deal of the Year

Background

CIVC Partners, a seasoned private equity firm investing in high-growth companies for over twenty years, has managed over $1.3 billion in invested capital and focuses on companies operating within the business services and financial services industries.

In 2006, CIVC teamed with company management to acquire GWC Warranty Corporation, a best‐in‐class marketer, administrator, and underwriter of vehicle service contracts sold through automobile dealers, on a proprietary basis outside of an auction process. CIVC leveraged its long history in financial services and extensive research on the automotive warranty sector to facilitate a comprehensive growth plan. CIVC worked closely with GWC Warranty senior management to successfully roll out new products, expand into multiple distribution channels, build the geographic footprint, and drive growth in market share, making it a clear leader in the industry.  This acquisition highlights the benefits of CIVC’s proprietary origination process, value-added approach, and specific affinity area expertise. 

Our Involvement

CIVC turned to Freeborn to assist it in the full sale process of GWC Warranty.  As mergers and acquisitions counsel, Freeborn guided CIVC through the engagement letter with the investment bank, worked with the Company to assemble and prepare diligence materials, reviewed letters of intent from potential purchasers, assisted with the selection of the ultimate purchaser, negotiated the stock purchase agreement and ancillary agreements, and then completed the closing.

Results

On February 20, 2013, CIVC announced the successful completion of the sale of GWC Warranty.  CIVC’s sale of GWC Warranty was named the Consumer and Retail Products M&A Deal of the Year (Under $200mm) at the 3rd Annual New York Champion’s Awards held in New York on June 20, 2013. The annual awards recognize and honor the leading transactions, firms, and dealmakers operating in the greater New York area and are presented by The M&A Advisor and the New York Chapter of the Association for Corporate Growth.

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Client

CIVC Partners