RIVINGTON PARTNERS ANNOUNCES CHANGE OF OWNERSHIP, WELCOMES QUADRANT MANAGEMENT AS ITS NEW INVESTOR
New York, NY, February 26, 2018: Rivington Partners (“Rivington” or the “Company”), a managing general agency founded by Jamie Sahara with a focus on specialty insurance programs, announced earlier today that it agreed to sell a significant stake of the Company to Quadrant Management, a private investment firm in New York. Together, Mr. Sahara and Quadrant will take a controlling interest in the Company.
Rivington Partners’ leadership team will remain intact, with Mr. Sahara continuing to serve as the Company’s CEO. “We are grateful to our original team of investors for supporting our business plan, launching the company and providing invaluable guidance over the last four years.” Mr. Sahara stated in a meeting today.
Rivington built its business by creating and developing niche insurance products, such as homeowners insurance in wildfire prone areas and representations and warranty insurance for M&A transactions, and currently operates ten distinct lines of insurance across the country. Mr. Sahara attributes much of Rivington’s success to his team of highly talented specialists, many of whom have specific expertise in industries other than insurance.
In closing, Mr. Sahara said: “Quadrant Management is a storied investment group, with tremendous experience and a rich history of successfully growing companies. We are excited to have found a partner who can provide the significant capital investment Rivington needs to propel its business forward. Quadrant’s guidance and support will be instrumental in the next phase of our Company’s lifecycle.”
About Rivington Partners:
Rivington Partners is a program administrator and managing general agent focused on specialized insurance programs. It operates in three segments: transactional liability (through VALE Insurance Partners), commercial lines (including transportation and environmental insurance), and personal lines (including specialty homeowners and automotive insurance). Rivington is based in New York, NY, with underwriting offices in San Francisco, Concord, Los Angeles and Denver.
About Quadrant Management:
Quadrant Management, Inc. is a principal investment management firm. Quadrant and its affiliates manage over $3 billion. Quadrant’s core business is lower middle market private equity investing and hands-on company restructuring. Quadrant has an opportunistic investment philosophy and manages investments in multiple industries around the world. Quadrant’s platform is rooted with a global investment outlook, deep operating experience, deal structuring expertise, high integrity, and an extensive network of relationship