Castle Placement Named Exclusive Placement Agent for IST Risk

eTradeWire News/10550781
NEW YORK - eTradeWire -- International Standard Transport Risk (ISTR) announced today that it has engaged Castle Placement as its exclusive placement agent to raise $65 million of equity to acquire/expand an insurance company initially focused on the "Truck and Garage" niche sector in Texas, Florida, and California.

ISTR plans to provide insurance to all areas of trucking and garage risk, with initial concentrations in long-haul trucking, garage operations for service risks, as well as towing operations. ISTR plans to enter the market rapidly by acquiring an existing small carrier and subsequently expanding product offerings by forming a new entity with additional product and state licenses.

The ISTR management team, led by industry veteran Darren Yancy, believes the truck and garage insurance market offers dramatic growth opportunities due to market dislocations over the past several years.

Mr. Yancy is also co-host of the live radio show "The Automotive Edge Radio Show & Truck Talk", which is broadcast on iheart radio AM 1190 in Dallas each Friday from 3 to 5 pm Central Time. The show covers a wide range of industry topics, including Mr. Yancy's specialties -  transportation policy, regulations and insurance.

More on eTradeWire News
Founded in 2009, Castle Placement raises equity and debt capital for private middle market companies across a broad spectrum of industries. Highly experienced investment bankers and a robust, data-driven, innovative technology platform – including artificial intelligence/machine learning – match great companies with global institutional investors. Castle Placement's proprietary app, CPGO, connects companies with investors in real time. It has over 64,500 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders.

Castle Placement - John Haltmaier
(212) 418-1183

Source: Castle Placement and ISTR
Filed Under: Finance, Transportation

Show All News | Report Violation

1000 characters max.

Latest on eTradeWire News