Aurora Capital Group Completes Sale of Mitchell to KKR
LOS ANGELES, CA, OCT 14, 2013 – Aurora Capital Group ("Aurora"), a Los Angeles-based private equity firm with over $2 billion of assets under management, today announced that it has completed the previously announced sale of Mitchell International, a leading provider of technology, connectivity and information solutions to the Property & Casualty (P&C) Claims and Collision Repair industries, to KKR, a New York-based global investment firm. Aurora acquired Mitchell in March 2007 along with co-investors Norwest Equity Partners and GE Pension. Financial terms of the transaction were not disclosed.
Josh Klinefelter, head of Aurora's Software & Information Services practice, said, "Aurora's strategy of identifying outstanding companies and partnering with strong management teams to accelerate growth and profitability is exemplified by the success of Mitchell International. Mitchell's management team, led by CEO Alex Sun, has done a fantastic job of enhancing the company's strategic position, and we wish them and KKR the very best in the future. We will continue to identify opportunities in the middle market that leverage our team's unique ability to help a company reach its potential and create value for all of our stakeholders."
Mitchell is uniquely positioned to simplify, enhance and accelerate claims handling processes across the P&C industry through deep workflow solutions that include unparalleled access to data, advanced analytics and decision support tools. Mitchell's expert workflow and adjusting solutions advance the claims management process by enabling automotive physical damage, bodily injury and workers' compensation clients to process claims more accurately, consistently, and cost-effectively. Mitchell's solutions provide an expert level of decision support and connectivity within the claims organization and with industry partners to achieve optimal outcomes. Mitchell's comprehensive solution portfolio and robust SaaS infrastructure enables tens of millions of electronic transactions to be processed each month for over 300 insurance companies, including the majority of the top 25 insurance carriers, and over 30,000 collision repair facilities. With an expanding global footprint, Mitchell products are currently utilized in the Americas, Europe and Asia. Mitchell is headquartered in San Diego, California, and has 2,000 employees. For additional information about Mitchell, please visit www.mitchell.com.