"When we first met Michael and his team they immediately understood our objectives and shared our vision of the opportunity in telecommunication infrastructure throughout the Americas. They have been intelligent, active and supportive business partners in all dimensions of our growth."
Advantage General Insurance Company Ltd.
Date of Investment:
September, 2008
Deal Value:
$3.5 million
Status:
fully realized
Website:
www.advantagegeneral.com In early 2006, Advantage General (at the time called United General) was a struggling Jamaican insurance company that was poorly managed but had a strong market share. Recognizing an opportunity predicated on a turnaround strategy, several of the Portland Private Equity team were responsible for leading a $15M anchor investment through an earlier investment vehicle. ACF made a toehold investment in early 2008 securing the fund’s ability to participate in the Company’s anticipated pan-regional roll-out. A full exit was ultimately achieved through a trade sale.
The Portland Private Equity Difference:
Portland Private Equity added value by:
- Recruiting new upper level management
- Identifying skill gaps and reconstituting the board
- Leading the re-engineering of the operational processes of the business
- Re-branding the Company to take advantage of its association with AIC
- Providing strategic advice and support in all facets of the business