Buckle’s acquisition of Gateway Insurance Company recognized in prestigious Turnaround Awards for Financials Deal of the Year.
JERSEY CITY, N.J. — Buckle, an inclusive tech-enabled financial services company, is a winner in M&A Advisor’s 15th Annual Turnaround Awards. The company has been recognized in the category, Financials Deal of the Year for its acquisition of Gateway Insurance Company. Buckle received its award at the Turnaround Awards Gala, which took place at the 2021 Distressed Investing Summit on September 29, 2021 in midtown Manhattan.
“The prestigious Turnaround Awards are the benchmark for restructuring excellence, recognizing the year’s leading distressed M&A transactions, restructurings, refinancings, turnarounds, and dealmakers,” said Marty Young, co-founder and CEO of Buckle. “Buckle is thrilled to be honored among a team of award-winning attorneys and professionals who achieved the unimaginable in the property and casualty insurance industry. We are also honored to be among the prestigious list of other Turnaround Award winners who are moving the industry forward.”
Oscar Pinkas, NY Chair of Restructuring & Member of Corporate and Finance Practices at global law firm Greenberg Traurig, LLP, led the Buckle legal effort on the acquisition of Gateway. Greenberg Traurig attorneys were Turnaround Award winners in two other categories.
Also named in the award as part of the Buckle team were Dentons US and the Illinois Department of Insurance.
Buckle announced the acquisition and recapitalization of Gateway, including its 47 state insurance licenses in 2020. Gateway was formerly an indirect subsidiary of Atlas Financial Holdings, Inc. (Atlas), providing auto insurance to the light commercial automobiles market in the U.S.
After acquiring and re-capitalizing Gateway, Buckle began to support Atlas’ wholly owned managing general agency (MGA), Anchor Group Management, Inc. (AGMI). In partnership with Atlas, Buckle provides comprehensive, affordable insurance to the commercial auto market, providing protection to taxicab and black car limousine drivers, many of whom drive for Lyft and Uber. Through Gateway, Buckle also writes its signature gig auto insurance product, as well as non-standard auto insurance products through other MGA partnerships.
The company recently closed on $60M in funding to expand its full-stack insurance platform across the U.S., which will help to further its goal of offering solutions to help bring financial security to the rising middle class and gig economy.
“Award winners represent the best of the distressed investing and reorganization industry over the past year,” said Roger Aguinaldo, Founder of The M&A Advisor. “We are in an environment that has seen whole industries, such as retail, restaurants, leisure and hospitality experience depression-like effects. Despite it all, these professionals have helped companies during these difficult times. We recognize these leading transactions, firms and individuals that represent the highest levels of performance.”
Winners were selected from hundreds of nominations by prominent experts in the M&A, finance, and turnaround community.
For more information on M&A Advisor’s 15th Annual Turnaround Awards, go to: https://events.maadvisor.com/DITA#/turnaroundawards.
Buckle is the inclusive digital financial services company serving the rising middle class and providers to the gig economy. Using a portfolio of technologies and data sources, Buckle provides insurance and credit products to those who earn less than the average American wage and are subsequently penalized for having poor or no credit. Connect with Buckle on Facebook, Twitter and LinkedIn. Visit www.buckleup.com.
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