Palladium Equity Partners, LLC Receives Deal of the Year Award from the National Association of Investment Companies for its Investment in Pronto Insurance

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Nov 01, 2019, 08:00 ET

NEW YORK, Nov. 1, 2019 /PRNewswire/ -- Palladium Equity Partners, LLC ("Palladium"), a middle market private equity firm with approximately $3 billion in assets under management, today announced that the firm has received the 2019 Deal of the Year Award from the National Association of Investment Companies ("NAIC") for its investment in Pronto Insurance ("Pronto"). The award was presented at NAIC's 2019 Annual Private Equity & Hedge Fund Conference in Los Angeles on October 24, 2019.

In late 2014, affiliates of Palladium partnered in the investment in Pronto with the Varela family, who founded the company in 1997. Pronto's primary business is the placement of personal automobile insurance for consumers throughout Texas, California and Florida, with a special focus on serving the rapidly growing Hispanic community. The Brownsville, Texas-based company operates an omni-channel distribution network of Pronto-owned agencies, franchise agents, independent agents and a direct-to-consumer e-commerce platform. Palladium exited its investment in Pronto through a sale to Arthur J. Gallagher & Co., a publicly traded insurance company, in June 2018.

Under Palladium's ownership, Pronto expanded its store count in Texas and entered California and Florida through acquisitions. Palladium was able to implement key elements of the Firm's GOL^™ value creation framework, including recruiting a new CFO, COO, VP of Business Development and three experienced board executives; supporting the development and implementation of a new policy underwriting and management system; redeveloping and expanding Pronto's e-commerce platform; assisting in the launch of new products; and helping to facilitate three acquisitions through the establishment of an in-house acquisitions program and function.

Leon Brujis, Managing Director, said, "The Palladium team is proud to have been selected to receive the NAIC Deal of the Year Award for our investment in Pronto Insurance. We are grateful to the NAIC for this honor and recognition."

The NAIC's Deal of the Year Award is presented annually to a team that has completed a deal best representing the tremendous insight, extraordinary talent, and investment opportunities resident within the U.S. Emerging Domestic Market.

About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with approximately $3 billion of assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has made 33 platform investments and over 130 add-on acquisitions. For more information on Palladium Equity Partners, please visit www.palladiumequity.com.