Nolan Advised Trinity Warranty in its Sale to Kingsway Financial Services, and its Subsidiary, 1347 Capital

DATE: May 22, 2013

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Who is Our Client?

  • Trinity Warranty, located in Chicago, IL was founded in 2009 by a team of industry veterans with several decades of experience in the extended warranty space.
  • Trinity is a provider of unique warranty products and maintenance support to consumers in the heating, ventilation, air conditioning and refrigeration (HVAC/R) industry.
  • Trinity operates two separate, but related divisions. One of the divisions is a third party administrator (TPA) of Extended Warranty and Extended Service Plans, while the other provides facility managers of retail properties with maintenance and support for HVAC/R equipment.

Why Did Trinity Warranty Hire Nolan?

  • For the past three years, Trinity has grown rapidly while carefully developing the infrastructure necessary to expand while incurring limited incremental overhead.
  • Trinity sought a partner to assist it with a growth capital raise to stabilize the balance sheet and position Trinity to take advantage of many of the near-term growth opportunities in the pipeline.

What Value Did Nolan Deliver?

  • Nolan marketed Trinity’s unique products and capabilities, experienced management team and rapid growth story to a diverse mix of strategic targets and private equity groups.
  • Included in the list of potential buyers was Kingsway Financial Services, a public company listed on both the Toronto and New York Stock Exchanges (TSX: KFS, NYSE: KFS).
  • Kingsway, a holding company which owns or controls stakes in several insurance industry assets, believed Trinity had a compelling value proposition in its role as a TPA of warranty products.
  • Kingsway presented both a financially attractive offer and had the ability to close the deal expeditiously.
  • While the process was thorough, it was fast-tracked taking les

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