The transaction will complement and extend Capco’s growing insurance services.
NEW YORK, December 2, 2020 – Capco, the global management and technology consultancy, today announces the acquisition of NEOS LLC (‘NEOS’), a Hartford, CT based consultancy focused on helping leading insurance organizations drive transformational change.
The transaction will complement and extend Capco’s growing insurance services. NEOS’s leadership team, including Founder and Managing Partner Ernst Renner, and its employees will be joining Capco. Financial terms were not disclosed.
Specializing in working with clients that offer life, annuities, retirement, employee benefits, and property and casualty insurance, NEOS provides consulting and delivery services to solve its clients’ strategy, operations, data, and technology challenges.
Lance Levy, CEO of Capco, said: “The acquisition expands our capabilities and presence in the insurance sector, which is a key component of our growth strategy. This continues our focused approach of using targeted acquisitions to enhance specific capabilities that offer a strong business fit, and an opportunity to accelerate our growth. We have recently established insurance practices which we will grow through the addition of seasoned practitioners and teams. I am excited to welcome Ernst, and the NEOS team, to the Capco family.”
Michael Pugliese, Managing Partner of Capco’s US business, said: “NEOS is an established company with strong growth potential and a highly respected team with extensive experience and expertise in the insurance space. The acquisition will enable Capco to expand our footprint in the insurance sector, and to offer additional services to our current financial services clients that have insurance divisions.”
Ernst Renner, CEO and Managing Partner at NEOS, said: “Capco’s focus on business transformation and building solutions to deliver business value aligns perfectly with our own approach. Our decision to join Capco will expand our delivery capability and depth in areas we have been growing, notably digital transformation and data, and accelerate our ability to support our clients in those areas.
Harbor View Advisors served as a financial advisor to CAPCO in the transaction.
Capco is a global management and technology consultancy dedicated to the financial services and energy industries. Their professionals combine innovative thinking with unrivalled industry knowledge to offer our clients consulting expertise, complex technology and package integration, transformation delivery and managed services to move their organizations forward. Through their collaborative and efficient approach, they help their clients successfully innovate, increase revenue, manage risk and regulatory change, reduce costs, and enhance controls. They specialize in banking, capital markets, wealth and asset management, insurance, and energy. They serve their clients from offices in leading financial centers across the Americas, Europe, and Asia Pacific. To learn more, visit their web site at https://www.capco.com/ or follow them on Twitter, Facebook, YouTube, LinkedIn and Instagram.
Read the full press release from CAPCO.