The partnership positions Axis for long-term success and growth and complements the Company’s existing shareholder structure. Under the terms of the agreement, CEO, Alex Meier, retained the majority of his equity stake in the company.
Meier commented on the funding: “Our team is excited to partner with a seasoned financial services investor with a deep understanding of the insurance industry, we have made great strides in building out an exceptional national business. The investment partnership with Lee Equity will provide an incredible opportunity to accelerate our growth and vision to be best-in-class in every category of our industry.”
Mark Mauceri, Partner of Lee Equity, said “Axis Insurance is an emerging leader in specialty commercial insurance with an impressive track record of growth. There’s great potential for the Company to become a leading, national broker in the Canadian market.”
Mark Gormley, Partner of Lee Equity, added: “We have been highly impressed with the thoughtful approach Axis Insurance has taken to building a market leading business, and we are excited to partner with Alex and the Axis leadership team to capitalise on the many opportunities ahead.
Lee Equity has a strong track record investing in insurance companies. This has included investments in Captive Resources, McLarens, K2 Insurance, Simplicity Group, and Universal American, amongst others.
