Ambina Partners LLC, a Greenwich-headquartered private investment firm supporting growth-oriented middle market businesses, has sold its interests in PHP Agency Inc., an Addison, Texas-based life insurance field marketing organization focused on the diverse middle-class market with an emphasis on the Hispanic American community, to Integrity Marketing Group, a Dallas-based insurtech. The terms of the transaction were not disclosed.
Ambina invested in PHP in 2017 and was company’s first institutional investor. Ambina pointed out that PHP has more than tripled its revenue over the past five years and now serves its customers through over 170 offices across the country.
“Ambina has been an instrumental partner in driving the growth and success of our company over the past five years.” said Patrick Bet-David, founder and CEO of PHP. “In addition to providing financial support, Ambina helped us with critical decisions as we built the team and infrastructure necessary to effectively carry out our mission to increase diversity in life insurance, while helping families secure better financial futures.”
“It’s been a privilege to partner with PHP and its leader, Patrick Bet-David, who is an extraordinary entrepreneur,” added Greg Share, Chairman of Ambina Partners. “The company’s tremendous growth over our investment period is a testament to our collaborative partnership and Patrick and his team’s passion for providing exceptional service to agents and families.”