White Mountains’s Majority Investment in TRANZACT
October 15, 2014
On October 13, 2014, TRANZACT and White Mountains Insurance Group, Ltd. (“White Mountains”) announced that White Mountains has made a majority investment in TRANZACT, a leading provider of end‑to‑end customer acquisition solutions to the insurance sector. White Mountains acquired approximately 63% of TRANZACT for a purchase price of $178 million, representing an enterprise value of approximately $280 million. Cravath represented White Mountains in this transaction.
The Cravath team was led by partners Ting S. Chen and Philip A. Gelston and included associates Wesley C. Bell and Brendan M. Cottington on M&A matters; partner Christopher K. Fargo and associate Andrew Carlon on tax matters; practice area attorney M. C. Tania Balthazaar and associate Matthew J. Bobby on executive compensation and benefits matters; and associate Benjamin D. Landry on intellectual property matters.
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People
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J.D., 2006, Stanford Law School
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A.B., 2003, Harvard CollegePhi Beta Kappa, summa cum laude
- New York
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J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
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B.A., 2003, Boston CollegeHonors Program, cum laude
- New York
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J.D., 1977, Harvard Law SchoolSears Prize, magna cum laude
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A.B., 1974, Harvard CollegePhi Beta Kappa, cum laude
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On April 10, 2025, an investor group led by White Mountains Insurance Group, Ltd. (“White Mountains”), Ethos Capital and British Columbia Investment Management Corporation announced it will acquire an ownership position in BroadStreet Partners, Inc. (“BroadStreet”), a leading North American insurance brokerage company. Under the terms of the agreement, Ontario Teachers’ Pension Plan will maintain a significant co‑control stake in BroadStreet and operate in partnership with the investment group. Cravath is representing White Mountains in connection with the transaction.
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On October 20, 2023, White Mountains Insurance Group, Ltd. (“White Mountains”), a Bermuda‑domiciled financial services holding company, announced that it has entered into an agreement to acquire a majority stake in Bamboo Ide8 Insurance Services, LLC (“Bamboo”), a managing general agent focused on the California homeowners insurance market. White Mountains expects to invest approximately $285 million, including primary capital to support Bamboo's growth, and to acquire approximately 70% of Bamboo’s outstanding equity interests. Cravath is representing White Mountains in connection with the transaction.
