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Bain Capital Insurance to Recapitalize Ryze Claim Solutions
NOBLESVILLE, IN & TAMPA, FL – February 12, 2024 – Ryze Claim Solutions (“Ryze” or the “Company”), a full-service claims management business, today announced it has entered a definitive agreement to be recapitalized by Bain Capital Insurance (“Bain Capital”), the dedicated insurance investing unit of Bain Capital. Following the transaction, Ryze will be majority-owned by Bain Capital Insurance with members of the management team and select individuals retaining a meaningful ownership stake in the business. Ryze will continue to operate under its current management team led by Executive Chairman, Tony Grippa, and President, Scott St. John. Financial terms of the private transaction were not disclosed.
Ryze is a provider of full-service residential and commercial claims management solutions to the insurance carrier, hybrid or fronting carrier, and managing general agent (MGA) markets. Since its inception in 2014, Ryze has expanded its core residential property loss adjusting services to include desk, end-to-end third-party administration (TPA), alternative dispute resolution, lender placed, and virtual solutions, and has diversified its customer base to include the residential property, commercial property, and casualty end-markets. Included under the Ryze umbrella is Certus, which provides TPA claim services to specialty and casualty insurance companies and the MGA market. A fully scalable platform, Ryze is supported by a technology-enabled proprietary system that includes tools that manage a claim’s life cycle from receipt to close.
“We are proud to have built a platform that provides a depth and breadth of services to insurers who are increasingly looking for claim services partners as both the rate and the amount of routine and complex claims rise,” said Grippa. “We are looking forward to our partnership with Bain Capital, who shares our long-term vision for the continued expansion of our business offerings and thoughtfully growing the Ryze platform through a targeted acquisition effort.”
Waller Helms Advisors served as financial advisor to Bain Capital Insurance in the transaction.