Stonybrook Capital acted as the exclusive financial advisor to Federated Mutual
New York, NY — Stonybrook Capital an affiliate of FINRA-member Weild & Co., acted as advisor to Federated Mutual in connection with its intended acquisition of Granite Re.
“Stonybrook was instrumental in helping us think through the strategic alternatives for this business,” said Jeff Fetters, Chairman and CEO of Federated. Federated Mutual is a 112-year-old, A+ rated mutual focused on business insurance for selected industries. Granite Re is an A- rated provider of contract surety insurance. Federated Mutual generated $3.1 million in surety direct premiums written in 2015, representing just more than 0.2% of its total filed business volume. Granite Re reported $27.1 million in surety direct premiums written, 35th highest among P&C groups and top-tier entities and 38th highest among combined annual statement filers and standalone P&C carriers. All of Granite Re’s direct business in 2015 came from the surety line.
“We are pleased to have been retained by Federated to work on this assignment. We pride ourselves on our expertise in the specialty sector and, moreover, our bespoke client services,” said Ravi Arps, Founding Member and Director at Stonybrook Capital. “We are proud to call Federated a client of our firm. This is the third transaction we have closed with Federated in the last 12 months. Significantly, this transaction resulted from our partnership with Holborn Corporation, Federated’s reinsurance intermediary and a strategic stakeholder in Stonybrook Capital.” said Joe Scheerer, Principal and Managing Director of Stonybrook Capital.
Stonybrook is a strategic advisory and investment-banking firm located in New York City that focuses exclusively on the insurance and reinsurance industry. The Company advises clients on mergers and acquisitions, raises equity and debt capital, and does restructurings, valuation analyses, market finding and analyses of strategic alternatives, among other activities.
Securities transactions are executed through Weild & Co., member FINRA | SIPC. For more information, visit our website: www.stonybrookcap.wpengine.com.