GTCR has announced it will acquire TRANZACT.
TRANZACT, founded in 1997 and based in Fort Lee, New Jersey, is a direct-to-consumer insurance services company. The company states it is the agent of record for more than 1 million active insurance policies across the Medicare Advantage, Medicare supplement, and life and supplemental insurance markets.
GTCR, based in Chicago, pursues a wide range of investments in several industries, including healthcare. Founded in 1980, the firm prefers to make more substantial investments from a dollars perspective.
GTCR is acquiring TRANZACT alongside Recognize, a technology services investment platform, from WTW (NASDAQ: WTW), a global advisory, broking and solutions company.
The transaction values TRANZACT at more than $632 million.
