Genstar Capital announces reinvestment in Association Member Benefits Advisors in partnership with management to fuel next chapter of growth
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SAN FRANCISCO, August 2, 2021 / PRNewswire / – Genstar Capital, a leading private equity firm focused on investing in targeted segments of the financial services, healthcare, industrial and software industries, announced today that it has added its newest fund to Association Member Benefits Advisors (AMBA), a national affinity-based membership and marketing insurance agency, in partnership with the AMBA management team. Under the ownership of Genstar, AMBA has developed into an important partner for its association customers, offering membership development, marketing services, website and database management and IT services, among other things, and dramatically increasing the value proposition for the association.
AMBA sells insurance and other ancillary products primarily through a proprietary network of retired teachers, educators, and state workers’ organizations in over 40 states. AMBA prides itself on the incredible partnerships and support offered to these associations. Working with Genstar, AMBA has helped its partner associations thrive and grow in the industry by delivering valuable benefits, increasing membership and retention.
AMBA works with some of the top rated insurance companies in the insurance industry to create an attractive portfolio of products. In close cooperation with its freight forwarders, AMBA strives to offer its customers access and security in the event of damage. AMBA customers have access to world class products and services including long term care, short term care, cancer, heart, stroke, emergency medical transportation, dentistry, eyesight, Medicare, annuities and life insurance.
Genstar originally acquired AMBA in 2016 and has since worked carefully with the management team to grow the business organically through product and sales investments. AMBA has grown into a much larger organization with an incredible group of employees and a network of performance specialists who focus on serving associations and their members. The investment of new equity from Genstar’s ninth fund will allow AMBA to continue to support membership growth of its partner associations and make additional acquisitions that will help the company expand into new regions, expand product offerings and improve relationships with carriers .
Ryan Clark, President and Managing Director of Genstar Capital, said, “AMBA is the only established player in the retired teacher association and public employee association market and is well positioned to participate in the broader senior market in 2016, including the recent global pandemic. We are excited about the untapped opportunities to achieve further organic growth and to expand the business dramatically through targeted acquisitions. We look forward to continuing our partnership with Steve Cardinal and his senior management team to realize the full potential of AMBA. “
Steve Cardinal, CEO of AMBA, said: “Together with Genstar we have made AMBA a provider of high quality and outstanding services for our association customers, insurance carriers and exclusive agents. We have organically scaled the business and completed five strategic acquisitions that “position us as an important partner for associations and their members. The growth prospects for AMBA are in our existing core markets as well as through the development of new association relationships and the use of considerable adjacent markets and product lines , including Medicare and retirement products, good. I thank our incredible staff and our network of performance specialists who are focused on serving our associations and their members. We look forward to working together to build our business in all 50 states. “
AMBA is headquartered in Austin, TX. Further information can be found at www.amba.info.
About Genstar
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years. Based in San Francisco, Genstar works in partnership with its management teams and network of strategic advisors to transform its portfolio companies into industry leaders. Genstar currently has approx. $ 33 billion of assets under management and is aimed at investments focused on specific segments of the financial services, healthcare, industrial and software industries.
Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
SOURCE Genstar Capital
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