NEW YORK, NY — Stonybrook Capital (“Stonybrook”) is pleased to announce that it has advised CSE Insurance Group’s management team on the sale of CSE to Porch Group (NASDAQ:“PRCH”). This marks another successful transaction for Stonybrook in the insurance industry vertical where it was able to utilize its insurance expertise to achieve the desired result for its client.
Formed in 1949, CSE is a California based personal lines carrier focused on property and auto business. This transaction provides Porch an additional platform for growth and accelerates the entry into the California insurance market.
Porch is a vertical software platform that provides software and services to more than 17,000 home services companies.
“We’re excited to have worked with the CSE management team on this transaction. The synergies and capabilities Porch brings to the table should aid CSE in the next step of its evolution. Stonybrook are once again pleased to be one of the leading operators in the personal lines insurance space.,” said Thomas Deane, Partner at Stonybrook Capital.
“We selected the Stonybrook team based on their expertise and deep industry ties both in insurance and financial services. They advised us on key decisions, identified and screened potential buyers, and shepherded the transaction to completion. We could not be more pleased with their performance” said Marcus Linden, CEO of CSE Insurance.
Please find a case study of the transaction by clicking here