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Palladium Equity Partners affiliate to sell Pronto to Arthur J. Gallagher unit

An affiliated fund of Palladium Equity Partners LLC has agreed to sell Pronto Holdco LLC to Risk Placement Services Inc., a unit of Arthur J. Gallagher & Co.

Texas-headquartered Pronto Holdco is the parent company of Pronto Insurance, a full-service managing general agency, broker and claims administrator.

Pronto's primary business is the placement of personal automobile insurance for consumers throughout Texas, California and Florida. It operates an omnichannel distribution network of Pronto-owned agencies, franchise agents, independent agents and a direct-to-consumer e-commerce platform.

The transaction is expected to close in the second quarter.

William Blair & Co. acted as financial adviser and Locke Lord LLP acted as legal counsel to Pronto.