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Altaline makes strategic growth investment in Risk & Regulatory Consulting
Risk & Regulatory Consulting employs about 160 people across 44 states and jurisdictions, and Altaline plans to add hiring plus an employee ownership equity program.
Altaline Capital Management has made a strategic growth investment in Risk & Regulatory Consulting, a firm that provides actuarial, financial, IT, compliance, and related services to US insurance regulators.
Risk & Regulatory Consulting, founded in 2012 and headquartered in Farmington, Connecticut, employs around 160 people and supports insurance departments and related organizations across 44 states and jurisdictions. Its services include financial and IT examinations, market conduct examinations, actuarial work, insolvency and receivership support, market studies, and investment analysis.
Altaline said financial terms of the transaction were not disclosed. Co-CEOs LeeAnne Creevy and Tricia Matson will continue to lead the business, and Altaline plans to support hiring and introduce an employee ownership program intended to let substantially all RRC employees receive equity.
Apogem Capital provided debt financing and Align Collaborate provided equity financing for the deal. The firm also added board members, including former Willis Towers Watson CEO John Haley and former Marsh Captive Solutions president Ellen Charnley, according to Coverager.