MidCap Advisors Facilitates Acquisition of Gulf Coast Insurance Agencies by Third Wave
MidCap Advisors served as the exclusive financial advisor in the acquisition of five Gulf Coast insurance agencies—Massad Olinde Benefits Consulting, Acuity Group, Benefits Administrative Services, Aparicio Walker & Seeling Inc., and Spielmann & Associates—by TPG-backed brokerage firm Third Wave. The deal expands Third Wave's presence into the Top 100 U.S. brokerages and creates a platform focused on middle-market clients in the Southeast. The newly integrated agencies will operate under Third Wave’s Palmer & Cay brand, ensuring continuity of service for existing clients while leveraging the acquiring company’s tech-driven model. MidCap Advisors highlighted its role in structuring and executing this complex transaction with precision, emphasizing alignment between regional expertise and strategic growth opportunities. Third Wave's acquisition is a significant step toward national expansion, combining local agency strengths with corporate resources to deliver comprehensive insurance services including employee benefits, commercial property and casualty coverage, self-funded healthcare administration, and wealth management.
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