CRC Insurance Services, Inc. signed a definitive agreement to acquire Centerstone Insurance and Financial Services, Inc. from Carlyle Global Financial Services Partners II, L.P. managed by The Carlyle Group Inc. (NasdaqGS:CG).

CRC Insurance Services, Inc. signed a definitive agreement to acquire Centerstone Insurance and Financial Services, Inc. from Carlyle Global Financial Services Partners II, L.P. managed by The Carlyle Group Inc. (NasdaqGS:CG) on August 8, 2022. BenefitMall will be combined into CRC Group. BenefitMall will retain its brand name under the continued leadership of the company's existing management team.

The transaction is expected to close in Q3, 2022. RBC Capital Markets and Truist Securities served as financial advisors, and Gregory Astrachan, Sean Ewen and Tej Prakash of Willkie Farr & Gallagher LLP served as legal counsel to CRC Group in this transaction. Waller Helms Advisors and Barclays served as financial advisors, and Wachtell, Lipton, Rosen & Katz served as legal counsel to Carlyle in this transaction.

James E. O'Bannon of Jones Day served as legal advisors to BenefitMall in this transaction.