UniVista Insurance Partners with GRAM to Drive Next Chapter of Growth

Transaction Values UniVista at Over $700 Million

Additional Investment and Resources to Accelerate UniVista’s Expansion and Growth in the Insurance Distribution Space

Avance Investment Management and Founders to Retain Meaningful Stake

MIAMI--(BUSINESS WIRE)--UniVista Insurance ("UniVista" or the "Company"), a leading distributor of insurance products and services to Hispanic communities in Florida and Texas, today announced that it has received a majority investment from entities affiliated with GRAM’s Americas Buyout Fund (“GRAM ABF”), the Private Equity division of GRAM. As part of the transaction, UniVista’s management, employees, and current capital partner, Avance Investment Management ("Avance"), will continue to retain meaningful stakes in the Company.

UniVista is a multi-product and multi-channel leader in providing insurance products and services through dynamic and innovative approaches. Founded in 2009 as a family-run business, with continuing involvement from the founding family since inception, UniVista offers a wide range of insurance products, including auto, home, commercial, life and health insurance, primarily serving the Hispanic communities in Florida and Texas. UniVista employs over 400 individuals and operates under both a franchisor and a corporate model, with more than 200 franchised stores, 15 corporate stores, a corporate call center, and a managing general agent (MGA) operating under the “Loyalty Underwriter” brand. By harnessing technology, data, and analytics, UniVista drives high customer satisfaction, supports employee professional development and engages with the communities it serves.

With this investment from GRAM ABF, UniVista plans to accelerate the growth of its core product areas and expand its platform into new products. The Company will also expand its footprint through corporate store and franchise expansion in Florida, Texas, and across the U.S. UniVista will continue to be led by Founder & CEO, Iván Herrera, and its current management team.

“We are excited to embark on our next phase of growth with the GRAM ABF team,” said Iván Herrera, Founder & CEO of UniVista. “I am incredibly proud of the business that we as a team have built on the principles of honesty, integrity and teamwork. GRAM ABF’s investment is a testament to the unique business we have built. Our commitment to serving Hispanic communities aligns perfectly with GRAM ABF’s mission of investing in the Hispanic market.”

“Since launching GRAM ABF less than a year ago, we could not be more excited to partner with the founders and management team of UniVista in our inaugural investment. We have developed a strong fit and alignment with the UniVista team and look forward to driving value for the business in this next chapter,” said Eduardo Ramos, Managing Partner of GRAM’s Americas Buyout Fund.

Marco Peschiera, CEO and CIO of GRAM, added, “Essential services businesses in the middle-market are a key focus for GRAM ABF. UniVista fits our thesis perfectly and we aim to capitalize on the tailwinds that are supporting the Company’s growth trajectory.”

“Since our investment in UniVista three and a half years ago, the Company has demonstrated remarkable growth, nearly tripling in size, through significant customer base expansion, introduction of new product lines and services, and entry into new markets like Texas,” said Luis Zaldivar, Managing Partner of Avance. “We are pleased to have supported their success and look forward to our continued partnership as they capitalize on future growth opportunities with GRAM ABF.”

Piper Sandler & Co. served as exclusive financial advisor and Greenberg Traurig, LLP served as legal counsel to Avance and UniVista. William Blair & Company, L.L.C. served as exclusive financial advisor and Akerman LLP served as legal counsel to GRAM ABF with support from Debevoise & Plimpton and McDermott Will & Emery LLP. Financing for the transaction was led by Everberg Capital with partners Crestline Investors and 26North Partners.

About UniVista

UniVista Insurance (www.univistainsurance.com) is a leading insurance distribution platform primarily serving Hispanic communities. Since 2009, UniVista has provided a full suite of auto, home, commercial, life and health insurance products from third-party insurance carriers and its in-house managing general agent, Loyalty Underwriter. UniVista operates 15 corporate stores and over 200 franchises across Florida and Texas, and was ranked the 28^th largest P&C insurance agency in the United States by Insurance Journal in 2023.

About GRAM

GRAM’s Americas Buyout Fund (https://www.gr-am.com/), the Private Equity division of GRAM, leverages the team’s extensive experience to identify, source and grow middle-market businesses with a focus on essential services & consumer businesses within the U.S. Hispanic ecosystem.

The team, previously Carlyle’s investment team for the Americas, maintains access to the Carlyle network and global industry experts; a strategic collaboration with Carlyle allows GRAM to leverage a global pool of industry expertise with decades of track record experience, while maintaining the agility of GRAM.

GRAM is also supported by Grupo Romero, a conglomerate established in 1893 and among the largest and most important economic groups in Latin America. Grupo Romero controls 13 public and private businesses spanning industries including consumer, financial services, healthcare, industrials, energy, infrastructure, and business services in over 10 countries.

About Avance

Avance is a private equity firm with a passion for building great businesses in partnership with talented management teams. Avance focuses primarily on thematic investments within the services, technology and consumer areas in the U.S., seeking attractive opportunities with catalysts for growth and fragmented spaces with consolidation opportunities. Avance's team has a long history of partnering with founder-owned businesses, industry executives, and management teams and aims to add value to each investment.