Harris Williams & Co. announces that the equity interest in York Risk Services Group, Inc. (York), a portfolio company of Odyssey Investment Partners, LLC (Odyssey), has been acquired by ABRY Partners (ABRY). The transaction closed on December 28, 2010. Harris Williams & Co. acted as the financial advisor to York. The transaction was led by Ned Valentine, Derek Lewis, Brent Spiller, Jershon Jones and Corey Benjamin from the firm's Richmond office.
York is a leading provider of specialized outsourced services to the insurance industry. York provides claims management, specialized loss adjusting, pool administration, managed care, and other risk management services for public entities, industry programs, self-insured entities, and insurance pools, as well as directly to insurance carriers. York participates primarily in specialty niche areas of the highly fragmented outsourced insurance services industry, where the complexity of the claims makes York's industry expertise and focus on client service key differentiating factors. York delivers customized claims solutions for all lines of business, including property, liability, products liability, ocean and inland marine, environmental, transportation and logistics, construction, and workers' compensation and managed care.
Odyssey, with offices in New York and Los Angeles, is a leading middle market private equity firm with more than $2 billion under management. Odyssey primarily makes control investments, typically in established middle market companies in a variety of industries.
Based in Boston, ABRY is a private equity investment firm focused solely on media, communications, business and information services investments. Since 1989, ABRY has completed more than $21 billion of leveraged transactions and other private equity and mezzanine investments, representing investments in approximately 450 properties.