Clearlake Capital to acquire Zywave from Aurora
Clearlake Capital Group announced that it has signed a definitive agreement to acquire Zywave , a software-as-a-service provider of front office insurance solutions, from Aurora Capital Partners. The Company will continue to be led by Jason Liu, Chief Executive Officer, and the current management team, who are investing alongside Clearlake in the transaction. Financial terms were not disclosed.
Founded in 1995, Zywave provides cloud-based insurance distribution software, serving over 6,000 brokerages including all of the top 100 U.S. insurance firms.
“Clearlake’s investment in Zywave is a true game-changer,” said Mr. Liu of Zywave. “This move will enable us to both accelerate our growth organically and increase our pace of acquisitions moving forward. Zywave is already a proven InsurTech leader, delivering end-to-end solutions to insurance professionals globally, and now we will have the opportunity to further expand upon our leadership position with even more impactful developments.”
“Zywave has a best-in-class software platform and an innovative portfolio of products that automate key revenue-generating activities at insurance brokerages. We have also been impressed by Zywave’s accelerating momentum under Jason’s leadership, and we share his and the management team’s vision that the Company will serve as an excellent platform for both organic and inorganic growth initiatives,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “We are pleased to partner with Zywave and look forward to leveraging our proprietary O.P.S.® framework to support the management team and its many talented and passionate employees to continue to grow the company.”
“We have thoroughly enjoyed working with Jason and his team to scale Zywave into the clear leader in the digital insurance market,” said Josh Klinefelter, Partner, Aurora, and Rob Fraser, Partner, Aurora. “We wish Zywave and Clearlake continued success in the next chapter of growth.”
