Oracle Insurance receives investment from Abry Partners
Financial specifics of the transaction remain undisclosed.
The Canadian insurance brokerage has been serving a client base of more than 60,000 through its near 40 branches and a workforce comprising more than 300 insurance professionals since its inception in 2011 by John Ferraro and Michael Di Nardo.
The company offers both commercial and personal lines insurance, such as home and auto, life and group benefits for corporate clients.
Ferraro said: 'This partnership with Abry Partners marks an exciting new chapter for Oracle RMS. Abry's investment is a strong vote of confidence in the exceptional talent of our people, the strength of our proven business model, and our long-term vision for growth across Canada."
Oracle RMS leadership team retained 'significant' equity stake, with the existing management continue to operate the business.
The transaction was advised by KPMG Corporate Finance, which served as the exclusive financial advisor to Oracle RMS.
Abry principal David Coneway stated: 'We were highly impressed by Oracle RMS as a business, but even more-so by its people and culture. The company embodies the client-first ethos and entrepreneurial spirit that have long defined exceptional brokers and combines it with a passion for meeting the evolving needs of its valued insurance markets. We are thrilled to partner with John and Mike to further support their growth.'
Abry Partners, known for its specialisation in the insurance distribution sector, has a history of supporting retail brokerage platforms across North America.
In November 2024, Abry Partners and BHMS Investments divested Innovisk Capital Partners to Ryan Specialty.
"Oracle Insurance receives investment from Abry Partners " was originally created and published by Life Insurance International, a GlobalData owned brand.
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