TCustomer acquisition solutions provider Tranzact, a portfolio company of Halyard Capital, has acquired The Credo Group, an online insurance marketer.
Terms of the deal were not disclosed. Halyard Capital is a New York-based private equity fund with $350 million of capital under management focused on investing in media, communications and business services companies.
Based in Fort Lee, NJ, Tranzact provides technology-driven customer acquisition solutions to the financial services and media and telecommunications sectors. Founded in 1999 and headquartered in Warminster, PA, The Credo Group provides e-distribution services to the insurance industry and a leading marketer of online life and health insurance products. More than half of all online life insurance policies are written through The Credo Group’s technology and platform.
The Credo Group acquisition is a perfect strategic fit for the company because it extends its position as a market leader in convergent marketing, said Tranzact. The move also improves its online insurance lead generation and customer acquisition capabilities by broadening its reach into the financial services sector, and it complements its strategy of acquiring specialized assets to help Tranzact grow.
Tranzact, on the other hand, provides The Credo Group with technology, infrastructure and management depth that will allow for significant and accretive growth.