We represented Trean Insurance Group, Inc. (Nasdaq: TIG), a leading provider of products and services to the specialty insurance market, in connection with its acquisition by Altaris, LLC, a healthcare-focused private equity firm for $6.15 per share in cash. Trean’s common stock ceased trading and will no longer be listed on Nasdaq.  Trean is the parent company of American Liberty Insurance, Benchmark Insurance and Westcap Insurance Service, among others.

The team was led by Bass, Berry & Sims attorneys Scott Bell and Page Davidson and included corporate attorneys Tyler Huseman, Whitney Burnley and Annie Batcheller; debt finance attorney Leslie Ford; insurance attorneys Steve Taylor and Nick Bessette; tax attorney Bryan Metcalf; executive compensation attorney Curtis Fisher; and labor and employment attorney Lymari Cromwell.

“Bass, Berry & Sims is grateful for the opportunity to represent Trean Insurance in this transformative transaction and partner with the Trean team shortly after they became a public company in 2020. This builds upon our firm’s long-standing history of representing public companies in going-private transactions with private equity partners, and we are honored for the opportunity to support Trean’s continued growth and success,” said Scott.

The transaction was highlighted in several media outlets, including:

Trean Insurance Group, Inc. (Nasdaq: TIG) provides products and services to the specialty insurance market. Trean underwrites specialty casualty insurance products both through its program partners and its own managing general agencies. Trean also provides its program partners with a variety of services including issuing carrier services, claims administration and reinsurance brokerage. Trean is licensed to write business across 49 states and the District of Columbia.

Deal Recognition

This deal was named a winner in the following category for the 22nd Annual M&A Advisor Awards in 2023:

  • Private Equity Deal of the Year (Between $250MM-$1B)

The firm also was recognized in the M&A Deal of the Year (Between $1B-$5B) category for its work on the acquisition of PANTHERx Rare from Centene Corporation by Vistria Group, General Atlantic, and Nautic Partners. Read more about the 2023 M&A Advisor Awards here.

The deal had been named a finalist in four total categories for 2023, including:

  • Financials Deal of the Year
  • Corporate/Strategic Deal of the Year (Between $250MM-$500MM)
  • Private Equity Deal of the Year (Between $250MM-$1B)
  • M&A Deal of the Year (Between $250MM-$500MM)

Bass, Berry & Sims was named a finalist 10 times among several different categories representing a total of four separate transactions for the 2023 Awards.

Bass, Berry & Sims has significant experience representing buyers and sellers in both public and private company strategic transactions, as well as extensive familiarity in structuring private equity acquisitions and financings. We have served as counsel to national, major middle-market private equity funds and portfolio companies in more than 100 transactions across a myriad of industries in the last two years. Our work has earned the firm honors in national industry outlets, including being named Law Firm of the Year in 2021 by The M&A Advisor. We’ve consistently been recognized by The M&A Advisor for our deal work, most recently winning the M&A Deal of the Year (Between $1B-$5B) in 2022. In addition, the firm has been listed in leading league tables, including being ranked as #9 Most Active in U.S. Private Equity and #6 Most Active in Healthcare PE (PitchBook 2022). To learn more about our team, industry experience and value-add, click here.