ABRY Completes Acquisition of International Medical Group, Inc.
BOSTON, Nov. 3, 2015 (GLOBE NEWSWIRE) -- ABRY Partners ("ABRY"), a Boston-based private equity firm, has completed the previously announced acquisition of International Medical Group® (IMG®), a leader in the global insurance and assistance services market.
Brent Stone, partner at ABRY, said, "We are proud to welcome IMG into the ABRY family. Its outstanding leadership, sustained growth and reputation for excellence position IMG as the top player among its competitors. With our shared vision and values, we look forward to continuing our partnership and further expanding IMG's global presence."
IMG's executive management team, Board of Directors and previous private equity partners — Altaris Capital Partners and Galen Partners — approved the acquisition. The company's operations were not impacted by the ownership change.
IMG President and CEO Brian Barwick said, "We are excited to partner with ABRY, whose solid financial foundation and decades of experience investing in high-quality companies will provide the support necessary to drive additional expansion."
Greenhill, a leading independent investment bank, facilitated the acquisition. Terms of the transaction were not disclosed.
About ABRY Partners Founded in 1989 and headquartered in Boston, Massachusetts, ABRY Partners is an experienced and successful private equity investment firm focused on media, communications, insurance, business and information services. Since its founding, ABRY has completed more than $42 billion of transactions, representing investments in more than 450 properties.