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logo, company name

has been acquired by

text

Riscorp is an underwriter of workers' compensation insurance.

Senior Team

a man in a suit smiling

Frank H. "Bo" Briggs, III

Managing Director
a few people sitting at a table

Riscorp

Type

M&A Sell-Side

Description

Croft & Bender to represent the former CEO & largest share-holder in the final days of negotiations

Industries

Business Services
logo, company name

has been acquired by

text

Riscorp is an underwriter of workers' compensation insurance.

About

Riscorp was an underwriter of worker's compensation insurance.

Situation

Riscorp's management had been ousted due to improprieties and the company's Board had engaged an investment banker to sell the company. The process was nearing a conclusion and King & Spalding, counsel to the former CEO and largest shareholder, asked Croft & Bender to represent their client in the final days of negotiations.

Result

Croft & Bender was able to insert a second bidder and negotiate a transaction that increased consideration to shareholders by over 100% in less than a week's time.