Thomas H. Lee Partners L.P. (THL), a private equity firm, and French-owned Sword Group have signed a definitive agreement under which THL will acquire Sword Insurance, a global provider of software and services to the P&C insurance industry, from Sword Group. The transaction is expected to close next month, subject to regulatory approvals, and additional terms of the transaction were not disclosed.
“We are very proud of the leadership position we’ve established in both the U.S. and the U.K.,” says Steve Hauck, co-CEO of Sword Insurance. “Much of our expanded geographic footprint, growing blue chip customer base and diversified product set is attributable to Sword Group’s support over the last year and a half. THL will support us in realizing our vision to support a greater portion of our customers’ complex technology needs as we strive to become a top 5 global technology vendor."
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