Aurora Capital Group has completed the sale of Mitchell International, a provider of property & casualty insurance claims technology and software, to KKR. Aurora acquired Mitchell in March 2007 along with co-investors Norwest Equity Partners and GE Pension.
Mitchell is a provider of claims technology and software designed to automate and optimize property and casualty claims and related workflows. Mitchell offers a range of products and services that are designed to assist insurance carriers, third-party administrators, collision repair facilities, and other claims payers in managing automotive and workers’ compensation claims. The company is headquartered in San Diego (www.mitchell.com).
“Aurora’s strategy of identifying outstanding companies and partnering with strong management teams to accelerate growth and profitability is exemplified by the success of Mitchell International,” said Josh Klinefelter, head of Aurora’s Software & Information Services practice. “Mitchell’s management team, led by CEO Alex Sun, has done a fantastic job of enhancing the company’s strategic position, and we wish them and KKR the very best in the future. We will continue to identify opportunities in the middle market that leverage our team’s unique ability to help a company reach its potential and create value for all of our stakeholders.”
Aurora Capital focuses principally on control-investments in middle-market industrial, manufacturing and service oriented businesses. The firm, founded in 1991, has $2 billion of capital under management and is headquartered in Los Angeles (www.auroracap.com).
KKR makes private equity, fixed income and other investments in companies in North America, Europe, Asia and the Middle East. The firm has $83 billion in assets under management. In addition to its New York headquarters the firm has offices in Menlo Park, San Francisco, Houston, Washington DC, London, Paris, Hong Kong, Tokyo, Beijing, Mumbai, Dubai and Sydney (www.kkr.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-14-13
