GTCR Announces Sale of itel

Whats Happening:

GTCR, a leading private equity firm, has signed a definitive agreement to sell ITEL Laboratories, Inc. (itel) to Nearmap, a portfolio company of Thoma Bravo. Itel is a leading provider of data and analytics to the P&C insurance industry, offering real-time material pricing and repair-versus-replace analyses for insurance claims settlement. Under GTCR's ownership, itel underwent a transformational growth strategy, nearly doubling its revenue in three years.

Key Moves:

• GTCR signs agreement to sell itel to Nearmap, a Thoma Bravo portfolio company

• Itel nearly doubled its revenue in three years under GTCR's ownership

• Company launched multiple next-generation data and analytics products

By The Numbers:

• Itel supports over two million insurance claims annually

• GTCR has invested more than $30 billion in over 280 companies since inception

• GTCR currently manages more than $45 billion in equity capital

Key Quotes:

• "We are proud of the transformation that we accomplished at itel working in partnership with Brian and the rest of the management team," said Aaron Cohen, Managing Director at GTCR.

• "The strategic investments we made with GTCR position itel for a bright future as we continue to develop innovative solutions for our valued customers," said itel CEO Brian Matthews.

Bottom Line:

GTCR's successful sale of itel demonstrates the private equity firm's ability to drive transformational growth in its portfolio companies. The nearly doubled revenue and expanded product offerings position itel for continued success under new ownership, while reinforcing GTCR's track record in creating value through strategic investments and partnerships with management teams.

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