Under the revised terms, Assurant, Inc. will acquire TWG Holdings Limited and its subsidiaries, and remain a Delaware corporation. This change follows recently enacted U.S. tax legislation and allows Assurant to simplify the overall deal structure and optimize the transaction financing mix.
The transaction values The Warranty Group at $1.9 billion in equity value, or $2.5 billion of enterprise value, including their existing debt.
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.
A new five-year agreement has been made between the RAC and The Warranty Group.
The Warranty Group is first to the market with a new hybrid product called Service Plus.
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.