Term Sheet

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Confie Seguros being sold?

October 15, 2012: 2:46 PM ET

Hispanic-focused insurance group to switch private equity sponsors.

FORTUNE -- Confie Seguros, a New York-based insurance distributor focused on Hispanic consumers, has completed 13 acquisitions in 2012. Now it's the one being bought.

Private equity firm ABRY Partners is planning to purchase Confie Seguros from Genstar Capital, according to an FTC filing. Genstar helped form Confie Seguros in 2008, via a $75 million equity commitment. Today the company reports nearly $200 million in revenue and over 300 locations.

No word yet on a purchase price.

Confie Seguros co-founder and president Mordy Rothberg said that he could not speak about the situation, while neither ABRY nor Genstar returned requests for comment.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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