M&A
confidence high
sentiment positive
materiality 0.75
Primerica closes acquisition of 80% of e-TeleQuote, enterprise value $600M
Primerica, Inc.
- Enterprise value $600M; implied equity ~$450M; ~$340M cash, $15M note, 20% equity stake for 80% control.
- e-TeleQuote distributes Medicare plans from United Healthcare, Humana, Anthem with over 2,700 MA plans.
- Acquisition allows Primerica reps to serve clients' lifecycle needs; e-TeleQuote's platform and sales centers complement distribution.
- Potential earnout payments up to $50M ($25M each in 2022 and 2023).
- Primerica replaced e-TeleQuote's existing debt with lower-cost funding.