Clearlake Capital to Acquire Zywave from Aurora

Zywave will continue to be led by Jason Liu, CEO, and the current management team, who are also investing in the transaction.

(Image credit: Reno-Sparks Convention and Visitors Authority, RSCVA.)

Clearlake Capital Group, L.P. (Santa Monica, Calif.) has signed a definitive agreement to acquire Zywave, Inc. (Milwaukee, Wisc.), a provider of SaaS front-office insurance solutions, from Aurora Capital Partners (Los Angeles). Zywave will continue to be led by Jason Liu, CEO, and the current management team, who are also investing in the transaction.

Jason Liu, CEO, Zywave.

Zywave is a provider of cloud-based insurance distribution software, offering digital solutions designed to strengthen and grow insurance businesses. The company’s software solutions help aim to help insurance brokerages manage customer relationships by streamlining sales and renewal processes, quote delivery, content generation, and data tracking and analytics. Zywave currently serves over 6,000 brokerages including all of the top 100 U.S. insurance firms.

“Clearlake’s investment in Zywave is a true game-changer,” comments Liu. “This move will enable us to both accelerate our growth organically and increase our pace of acquisitions moving forward. Zywave is already a proven InsurTech leader, delivering end-to-end solutions to insurance professionals globally, and now we will have the opportunity to further expand upon our leadership position with even more impactful developments.”

Accelerating Momentum

Behdad Eghbali, Co-Founder and Managing Partner, Clearlake Capital.

“Zywave has a best-in-class software platform and an innovative portfolio of products that automate key revenue-generating activities at insurance brokerages,” says a statement from Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “We have also been impressed by Zywave’s accelerating momentum under Jason’s leadership, and we share his and the management team’s vision that the Company will serve as an excellent platform for both organic and inorganic growth initiatives. We are pleased to partner with Zywave and look forward to leveraging our proprietary O.P.S. framework to support the management team and its many talented and passionate employees to continue to grow the company.”

“We have thoroughly enjoyed working with Jason [Liu] and his team to scale Zywave into the clear leader in the insurance market,” comments Josh Klinefelter and Rob Fraser, Partners at Aurora. “We wish Zywave and Clearlake continued success in the next chapter of growth.”

William Blair & Company (Chicago) and Jefferies LLC (New York) served as financial advisors to Zywave and Aurora.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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