Bernhard Capital Partners Management, a services and infrastructure-focused private equity management firm, and The Gray Insurance Co. announced that a group of investors led by Bernhard Capital has entered into an agreement to make a significant investment in The Gray Casualty & Surety Co., Gray Insurance’s surety market affiliate.
Gray Surety, established in 2003, is a surety carrier headquartered in Metairie, La., that provides surety bonds to emerging and mid-market contractors. Gray Surety partners with professional bond agents to provide responsible surety bond options across the country. The Gray Surety team also underwrites commercial bonds related to licenses, permits and other regulatory requirements.
Terms of the transaction were not disclosed. Current management will continue to operate Gray Surety.
