Jackson Walker successfully represented Pronto General Agency, Ltd. and its affiliates (Pronto Insurance) in a significant investment by Palladium Equity Partners, LLC, a New York City-based private investment firm with over $2.5 billion in assets under management.
Headquartered in Brownsville, Texas, Pronto Insurance is a leading provider of non-standard auto insurance to the rapidly growing Hispanic market in Texas. The company has approximately 100 locations statewide in Corpus Christi, the Rio Grande Valley, Laredo, San Antonio, El Paso, Houston and Austin.
As a result of the investment, which was publicly announced on Oct. 1, 2014, Palladium holds a majority ownership interest in Pronto Insurance, while the company’s leadership team, comprising members of the Varela family and other executives, has retained a significant minority ownership interest.
The transaction was led by Jackson Walker attorneys Brandon Janes and Carlos Treviño, with assistance from other attorneys at the firm, including Ron Kerridge, Dudley McCalla, and Sally Hartman, as well as paralegal Cathie Martin. The successful transaction demonstrates Jackson Walker’s depth of experience in representing clients in the full range of Capital Markets activities, including private equity investments.