Stone Point Capital, a global private equity firm based in Connecticut, recently announced a purchase of GWC Warranty Corp. and certain affiliated entities from CIVC Partners.

Trident IV L.P. — a private equity fund managed by Stone Point Capital — and GWC’s management team came together to buy GWC.

GWC is headquartered in Wilkes-Barre, Pa., and serves as a marketer, administrator and underwriter of vehicle service contracts sold primarily via independent dealers.

“We are excited to be partnering with Stone Point for the next stage of GWC's growth,” said GWC chief executive officer Rob Glander. "Stone Point has a strong track record investing in the insurance and warranty sectors and will be a valuable strategic partner for our company as we continue delivering outstanding service to our customers.”

Under the deal, GWC was set to be held under the same holding company as Automobile Protection Corp., which is also in the Trident IV portfolio.

APCO markets and administrates service contracts and related benefits sold through franchised dealers. It also is the administrator of the CarMark Certified Pre-Owned program, owned by Auto Remarketing's affiliated company, POADA.

In the statement announcing the acquisition, officials noted: “GWC and APCO are highly complementary businesses with limited overlap between the two companies' end markets, distribution strategies and product sets. This acquisition provides Stone Point with the ability to offer vehicle service contracts and other ancillary products to every independent and franchised dealer in the U.S.”

Charles Davis, CEO of Stone Point Capital, added: “We are delighted about the opportunity to partner with Rob Glander and the rest of the GWC management team. We have been studying the warranty and extended service contract administration industry since 2000, and this is our third investment in the sector. GWC has a strong reputation as a leading warranty administrator and insurer, and we look forward to working with the management team to continue their success and take the business to the next level.”

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