AQS Inc., a Hartland, Wis.-based provider of commercial policy administration solutions to the property and casualty insurance industry, has been acquired by Grey Mountain Partners, a New York-based private equity firm. The transaction closed January 12, 2005.
"AQS has been providing innovative solutions to the property and casualty industry for over 25 years and this recent development is extremely positive for the continued evolution of AQS and the solutions we provide our customers," stated Kevin Flanagan, President and CEO of AQS. "Grey Mountain Partners embraces AQS' strategy, vision and technical direction and is enthusiastic to help us reach our strategic goals."
"Grey Mountain reviewed many insurance solution vendors and after an in-depth analysis we are excited to partner with AQS," stated Ben Ault, Business Development Manager of Grey Mountain Partners. "Our role will be to provide capital to help the AQS management team further expand and accelerate the value of their property and casualty solutions offerings."
Source: AQS Inc.
