Revau Expands Its North American Reach with Triad Acquisition
Revau Acquires Triad Oilfield Underwriters, Expanding North American Footprint
Revau, a leading managing general agent (MGA) in North America focused on property and casualty insurance, has acquired Triad Oilfield Underwriters, a Houston-based MGA and wholesale brokerage. This strategic move, Revau's third U.S. MGA acquisition, aims to enhance its underwriting capabilities and handle complex risks in the oil, gas, and marine sectors.
Triad, established in 2017 and merging with Bayshore Underwriters in 2022, is recognized for its proficiency in managing upstream oil & gas and marine risks. As a coverholder for Lloyd’s of London, Triad holds delegated underwriting authority and engages closely with specialty capacity providers. Its wholesale brokerage platform addresses niche and underserved markets within the energy sector, offering tailored insurance solutions.
Strategic Alignment with Revau’s Expansion Goals
The acquisition supports Revau’s strategic goal to grow its U.S. operations, enhancing specialized underwriting and market offerings across a wide risk portfolio. Revau is committed to preserving Triad's high-standard service and technical expertise, thus fortifying broker and market relationships. Triad’s management team will be integrated into Revau’s structure, driving the pursuit of strategic growth.
Jean-François Raymond, President and CEO of Revau, remarked, "This transaction accelerates our vision of replicating our tech-enabled MGA with a diversified, high-quality product offering in the U.S." He highlighted the substantial benefits that Triad's expertise and market relationships bring to Revau’s platform.
Growth Opportunities for Triad
From Triad's perspective, the acquisition presents a pivotal growth opportunity. Russell Gladwell, President of Bayshore and Managing Partner of Triad, pointed out that the merger positions the company well for future advancements, leveraging its established presence in the marine and energy sectors.
This acquisition marks the 10th by Revau since partnering with private equity firm Novacap in 2020. It underscores Revau’s dedication to expanding its specialty underwriting capabilities and bolstering its North American market presence. MarshBerry Capital, LLC, served as Triad’s exclusive financial advisor during the transaction.
About Revau:
Revau Advanced Underwriting Inc. is a prominent MGA in Canada and the United States, providing customized insurance solutions through an extensive broker network. Revau combines industry knowledge with a digital platform to streamline commercial insurance processes.
About Triad Oilfield Underwriters, LLC:
Since its founding in 2017, Triad Oilfield Underwriters, LLC has specialized in underwriting and placing risks in the energy and marine sectors, collaborating with retail and wholesale brokers from Houston.
For more details, visit www.revau.com and www.triadoilfield.com.