Newfront Insurance Combination Agreement with ABD Insurance and Financial Services
Gunderson Dettmer represented client Newfront Insurance, a technology-enabled brokerage, in its agreement to combine with ABD Insurance and Financial Services. The merger values the combined company at $1.35 billion and is expected to close by the end of August 2021.
In the announcement of the transaction, CEO of Newfront Spike Lipkin said, “We are intent on modernizing insurance and transforming it into something effortless that delights clients, insurance professionals, and trading partners. By combining Newfront’s technology platform and data analytics capabilities with ABD’s world-class insurance professionals, we set a new standard for risk management and employee wellbeing and engagement.”
The Gunderson deal team was led by corporate partner Ivan Gaviria, M&A partner John Olson, commercial and technology transactions partner Colin Chapman, employment partner Natalie Pierce, executive compensation partner Romica Singh, of counsel Anna Westfelt and associates Samantha Bronner, Hannah Porter, Yeji Han, David Moore, Jeff Salomon, Shu Hu, Kelly Trimble, Frida Alim, Andrew Leeds, Brittany Nicely, Sarah Moran, Agnes Aniol, Jamilah Mena, and Sofia Rattes.