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\u201cShelterPoint and Protective share a common vision to grow and protect more people during life\u2019s most critical moments. We are excited to become part of this great company and look forward to leveraging each other\u2019s strengths as we work toward our goals and continue delivering an exceptional customer experience to those who have trusted us with their care,\u201d added ShelterPoint\u2019s CEO Leston Welsh, who joins Protective as SVP, President, Employee Benefits.<\/p>\n
The merger better positions both ShelterPoint and Protective for future growth.<\/p>\n
\u201cAs a leader in the employee benefits space with a strong commitment to customer service, ShelterPoint stood out as a great business for Protective to add to our already diversified product mix. We welcome ShelterPoint\u2019s teammates to the Protective family and look forward to continuing ShelterPoint\u2019s great customer care to its more than two million customers,\u201d said Rich Bielen, President & CEO of Protective.<\/p>\n
\u201cToday marks a special milestone in Protective\u2019s story as we add a new business line to our portfolio,\u201d added Wade Harrison, EVP, Chief Retail Officer for Protective. \u201cShelterPoint is a well-known leader in the employee benefits industry, and we are thrilled about the opportunities it brings. Most importantly, we remain committed to maintaining the exceptional service and quality this team has established during its more than 50 years of service.\u201d<\/p>\n
This transaction represents Protective\u2019s 60th acquisition and its seventh acquisition completed since Protective became part of Dai-ichi in 2015.<\/p>\n
Serving as external legal counsel for Protective were Kirkland & Ellis LLP and Maynard Nexsen PC. ShelterPoint is a portfolio company of Eos Partners and its affiliates, a New York based private investment firm. ShelterPoint was represented by Winston & Strawn LLP and Katten Muchin Rosenman LLP. Financial advisors for this deal included Fenchurch Advisory Partners US LP for Protective and Goldman Sachs & Co. LLC for ShelterPoint.<\/p>\n<\/div>\n