For Immediate Release
January 19, 2021
NEW YORK, NY — Stonybrook Capital (“Stonybrook”) is pleased to announce that it has advised Cypress Group Holdings, Inc. (“Cypress”) on its proposed majority sale to an investment group led by Milestone Partners (“Milestone”). Along with Cypress, Milestone has acquired controlling stakes in ancillary companies that were previously owned and controlled by the owners of Cypress. Approval for the change of control must be obtained from the domestic regulator of each insurance company. This marks yet another successfully completed transaction for Stonybrook in the last two weeks.
Cypress Group Holdings, Inc. is the holding company for both Cypress Property and Casualty Insurance Company (“CPCIC”) and Access Home Insurance Company (“Access”). CPCIC is the Florida and Texas platform, while Access provides insurance within the states of Louisiana and South Carolina. In 2014, the company was purchased by a group of investors led by seasoned reinsurance executives Joe King, Enda McDonnell and Adrian Ryan.
Founded in 1995 and located in Radnor, PA, Milestone Partners is a lower middle market private equity firm focused on financial services and technology driven businesses. Milestone’s financial services experience includes investments in eCommission Financial Services, Mariner Finance, PayLink Payment Plans, Southern Management, and USAuto Sales.
“Joe, Enda, and Adrian have created a premier team and operation that we are pleased to have assisted. We look forward to continuing to serve Cypress and their future endeavors. This transaction further affirms Stonybrook’s role as the leader in the property catastrophe advisory space,” said Joseph Scheerer, Principal and CEO of Stonybrook.
“Cypress is a high-quality platform, with a superlative management team, and strong prospects for strategic growth, now even more so with Milestone’s backing. We are pleased to have been able to support the coming together of this partnership,” said Ravi Arps, Partner and Board Member of Stonybrook Capital.
“We could not be more pleased than we are with a partner like Milestone supporting our strategic initiatives. Stonybrook is a key business partner to us and were also successful in helping us raise debt capital earlier this year. They were instrumental in advising on and structuring this arrangement,” said Joe King, Co-CEO of Cypress.
Please find a case study of the transaction by clicking here
About Stonybrook Capital
Stonybrook Capital is an investment banking and reinsurance broking firm, with headquarters in New York City, and offices in London, that focuses exclusively on the insurance and reinsurance industry.
Securities transactions are executed through Weild & Co., member FINRA | SIPC.
Tel: (646) 927 0438