Maidstone Insurance Company Sold to Special Diversified Opportunities Inc.
NEW YORK, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Stonybrook Capital, an affiliate of FINRA-member Weild & Co., was named the exclusive sell-side financial advisor to Northwood Ventures, and other investors, in its sale of Maidstone Insurance Company to Special Diversified Opportunities Inc. (OTCQB:SDOIA).
Maidstone Insurance Company is a NY-domiciled, personal lines insurer with over 500 appointed brokers. Maidstone has 23 state licenses including NY, TX, CA, and IL, which has enabled it to develop a strong presence in private passenger auto market. In 2011, AutoOne Insurance was acquired from OneBeacon, by Interboro Holdings, and later rebranded as Maidstone Insurance in 2013. Northwood Ventures is a leading venture capital and buyout investor, that acquired Interboro LLC in February 2007. “Stonybrook was imperative in providing guidance, running the transaction process, and maximizing value in the sale of Maidstone,” said Northwood Ventures Managing Partner and Founder Peter Schiff. Special Diversified Opportunities, Inc. is a publically traded diversified holding company founded in 1990 that looks to acquire companies in various industries.
“Stonybrook is delighted to be involved in the sale of Maidstone, and are pleased to have been able to help management find a buyer that supported their initially expressed goals for the transaction,” said Ravi Arps, Director of Stonybrook Capital. “We are appreciative to have been chosen for this assignment by Northwood Ventures and Maidstone and acknowledge the opportunity to work with such an established Family Office.” said Dwight Evans, Senior Managing Director and Board Member of Stonybrook Capital. “We believe that our partnership with AHJ Capital Markets was helpful in finding a suitable buyer and vetting their ability to complete the transaction,” Evans added.
About Stonybrook Capital
Stonybrook Capital is a merchant and investment-banking firm located in New York City that focuses exclusively on the insurance and reinsurance industry. The Company’s shareholders include its employees, a renowned individual from the reinsurance industry, and the privately held independent reinsurance brokerage firm, HOLBORN Corporation. Established in 1920, Holborn offerings include advanced analytic tools, global market access, and responsive reinsurance services.
Securities transactions are executed through Weild & Co., member FINRA | SIPC.
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