Newly Branded Bearence, an Insurance and Financial Services Firm, and McCarthy Capital Partner to Expand into New Markets

OMAHA, Neb.--(EON:Enhanced Online News)--McCarthy Capital Corporation, recently partnered with management to complete an investment in Bearence Management Group, a Des Moines-based insurance and financial services firm. Bearence, which previously operated under the TrueNorth Companies brand, has rebranded itself and has established a new strategic objective. The management team of Bearence is actively looking for acquisition opportunities in other locations and communities.

“Their experience and wisdom will assist us greatly with our rapid expansion plans.”

Bearence is engaged in the sale and distribution of a broad array of property and casualty, life and health, employee benefits, investments and risk management products and services. Bearence currently has offices in Des Moines, Davenport, Minneapolis, Kansas City, Indianapolis and Nashville and continues to expand its operation in these cities.

Robert Bates, an experienced insurance executive and director of McCarthy Group, has co-invested in Bearence with McCarthy Capital, and will serve as chairman of Bearence’s holding company.

“We are very excited to partner with McCarthy Capital and Bob Bates,” said Joe Teeling, CEO of Bearence. “Their experience and wisdom will assist us greatly with our rapid expansion plans.”

The investment in Bearence is consistent with McCarthy Capital’s investment strategy – partnering with proven management teams at leading companies in high-growth markets. McCarthy Capital’s investment will support management’s plan for growth through acquisition and providing a full suite of risk-management solutions.

“We are very comfortable with this capable and experienced management team as well as the involvement by Bob Bates,” said Patrick Duffy, a principal at McCarthy Capital. “We look forward to providing our new partners the capital and strategic resources to support the company’s plan for substantial growth.”

About McCarthy Capital

McCarthy Capital Corporation is an Omaha-based private equity firm with approximately $1 billion under management. McCarthy Capital is a subsidiary of McCarthy Group, LLC.

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