Transportation and logistics insurance provider Reliance Partners announced Monday that it has recapitalized the company. It partnered with private equity firm Carousel Capital and venture incubator Lamp Post Group for funding.
With nearly $500 million in gross written premiums, Reliance is the fastest organically growing commercial broker in the U.S., according to a news release. The Chattanooga, Tennessee-based company focuses exclusively on transportation risk management, providing access to a full menu of insurance solutions to more than 8,000 trucking fleets and brokers.
“We chose Carousel because of their partnership approach, our alignment on strategy for growth, and their ability to help us achieve our goal of reaching $1+ billion in premiums in the next three years,” Andrew Ladebauche, Reliance CEO stated.
“Our company is at an inflection point, and after getting to know Carousel over the past two years, we are thrilled to have the opportunity to partner with them for both financial support as well as strategic guidance,” Reliance President Chad Eichelberger said. “Their experience fits perfectly with our strategy, where we are today as a company, and where we want to take Reliance over the next decade.”
Founded in 2009, Reliance has grown its network to roughly 250 employees representing more than 25 nationalities. It has also made acquisitions in the past, picking up cross-border insurer Borderless Coverage in 2021 and Capacity Southeast Agency in 2020.
“We were drawn to this partnership due to the strength of the team, their unparalleled track record of organic growth, differentiated sales strategy, and customer-centric focus,” said Al Welch, partner at Carousel. “Reliance is the leading domain expert in transportation risk management in the U.S., and is uniquely positioned within a very large and fragmented market.”
The transaction was funded with equity from a fund managed by Carousel and senior debt financing from Apogem Capital.
Carousel is a Charlotte, North Carolina-based investment firm focused on companies in the Southeast.
“We are beyond proud of the Reliance team and what they have accomplished over the course of our partnership and are excited to continue as investors to support the business,” added Ted Alling, Lamp Post Group co-founder.
More FreightWaves articles by Todd Maiden
- Refinery shutdown pushes FMCSA to temporarily lift hours-of-service rules
- RoadOne’s latest acquisition expands network to include Oakland
- PS Logistics adds refrigerated assets in latest deal
Van and reefer contracted rates decline this week
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now