Under SunTx’s Ownership, NBIS Significantly Grew its Core Business of Underwriting General Liability Insurance for the Contracting Sector
Established NBIS as a Premier Insurer of Crane and Rigging Equipment
DALLAS, Aug. 30, 2021 /PRNewswire/ — SunTx Capital Partners (“SunTx”), a Dallas, TX-based private equity firm that invests in middle market manufacturing, distribution, and service companies, today announced the sale of NationsBuilders Insurance Services (“NBIS” or “the Company”), the industry leader in specialty construction Risk Management and Insurance. Financial terms of the transaction were not disclosed.
Headquartered in Atlanta, GA, NBIS is a program administrator and Managing General Underwriter that provides construction and transport insurance, and risk management services for specialized heavy construction equipment, residential builders, and related transport industries. In particular, NBIS is a premier insurer of crane and rigging equipment, with an exceptional safety track record and best-in-class management practices for the industries it serves.
SunTx acquired a controlling stake in NBIS in 2005, with an eye towards building an industry leading platform that delivers compelling value for all stakeholders.
Ned N. Fleming, III, Founder and Managing Partner of SunTx Capital Partners, said, “The success that NBIS has had is emblematic of our firm’s track record of partnering with our portfolio companies to help them achieve transformational growth and operational excellence. During our ownership of the Company, there were many opportunities to sell the platform along the way, though we were committed to investing the time and resources to build a truly compelling market leader, well-positioned for continued success.”
Bill Tepe, President of NBIS, said, “Our long-term partnership with SunTx has enabled us to strengthen our market position by generating best-in-class, creative solutions to meet the risk management needs of our current and future clients. Ned, Mark, Craig and the entire SunTx team have been committed partners. We thank them for their contributions as we embark on the next phase of growth.”
Piper Sandler & Co. served as financial advisor to NBIS and SunTx Capital Partners. Reed Smith LLP provided external legal counsel.
ABOUT SUNTX CAPITAL PARTNERS
SunTx Capital Partners, LP, is a Dallas, TX-based private equity firm that invests in middle market manufacturing, distribution and service companies. SunTx specializes in supporting talented management teams in industries where SunTx can apply its operational experience and financial expertise to build leading middle-market companies with operations typically in the Sun Belt region of the United States. The capital committed by SunTx comes from the principals of SunTx as well as from institutional investors, including leading university endowments, pension funds and insurers. More information about SunTx can be found at www.suntx.com.
Daniel Yunger / Simone Leung
SOURCE SunTx Capital Partners