The transaction values The Warranty Group at $1.9 billion in equity value, or $2.5 billion of enterprise value, including their existing debt.
Full Release: https://www.assurant.com/NewsRoom/AllNews/NewsReleases/2017/October/assurant-to-acquire-the-warranty-group-in-transaction-valued-at-$2.5-billion
The deal is expected to yield $60m in pre-tax operating synergies. View Assurant’s presentation on the deal breakdown: http://s1.q4cdn.com/131015182/files/doc_presentations/2017/Assurant’s-Acquisition-of-The-Warranty-Group-Presentation.pdf
Nelson Chai was the former president of CIT Group and a former CFO of Merrill Lynch. Chai will join the company as CEO next month.
The Warranty Group has released a comprehensive study of consumer attitudes and purchase behaviors toward extended service contracts.
Montage Furniture Services Extends Underwriting Partnership with The Warranty Group
GRAND RAPIDS, Michigan, September 13, 2015
Montage Furniture Services (MFS), a leading national provider of furniture protection plans, has extended its partnership with its long-time underwriter, The Warranty Group (TWG) for an additional three years. This agreement ensures that furniture dealers and their customers can continue to rely on MFS protection plans with absolute confidence.
The Warranty Group announced a multi-year agreement with AutoNation to underwrite and administer AutoNation’s branded service contract program.
Full Release: http://www.marketwired.com/press-release/the-warranty-group-and-autonation-announce-multi-year-agreement-1990559.htm