Hellman & Friedman to buy Applied Systems for USD1.8bn

Applied Systems, Inc. said it has signed a definitive agreement to be acquired by investment funds advised by Hellman & Friedman LLC.

The company is being acquired from the global private investment firm Bain Capital in a transaction valued at approximately USD1.8bn. JMI Equity, a growth-oriented private equity firm that focuses on building market-leading software and technology-enabled services businesses, will be investing alongside H&F and, under the terms of the agreement, members of Applied Systems´ senior management will continue to maintain a significant ownership position in the company.

Applied Systems is a provider of insurance software and a recognized pioneer of agency management systems and data exchange between agencies, brokerages, carriers and their clients. The company supports an extensive customer base of over 12,000 agencies and brokerages and 350 insurers across the United States, Canada and the United Kingdom.

Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London and is currently investing its seventh fund, which has over USD8.9bn of committed capital. H&F has extensive experience in the software and insurance industries through current and previous ownership of large scale agencies, insurance carriers and software providers.

The transaction is subject to customary conditions to closing and is expected to be completed in early 2014.

Applied Systems is a provider of software that powers the business of insurance. To learn more, visit www.appliedsystems.com.

Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London. Since its founding in 1984, H&F has raised and, through its affiliated funds, managed over USD25bn of committed capital. For more information on H&F, visit www.hf.com.

JMI Equity is a growth equity firm focused on investing in leading software and technology-enabled services companies. Founded in 1992, JMI has invested in 110 businesses in its target markets and has over USD2.1bn of committed capital under management. For more information on JMI Equity, visit www.jmi.com.

Bain Capital, LLC is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity, credit products and absolute return with approximately USD70bn in assets under management. For more information on Bain Capital, visit www.baincapital.com.

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