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Douglas M. Morea joined Duval & Stachenfeld as a partner in 2007 and is a member of the firm’s Corporate Practice Group.
Mr. Morea is one of the foremost experts in the country in roll-up mergers and acquisitions programs, with a particular expertise in the insurance brokerage and related financial services industries. He has provided legal advice with respect to well over 100 mergers and acquisitions and joint ventures, as well as private debt and equity offerings in connection with these programs and other transactions. Funding for these transactions typically comes from a combination of private equity, senior debt and seller obligations. Mr. Morea’s legal, tax and accounting background has enabled him to assist venture capital funds, lenders and business principals in formulating complex acquisition strategies to achieve business plan goals and to satisfy investor and lender requirements.
From 1985 through 1991, Mr. Morea served as Tax Counsel for Corroon & Black Corporation, one of the largest publicly traded insurance brokers at the time. During his tenure with Corroon & Black, Mr. Morea advised on several acquisitions, including its merger with Willis Faber, P.L.C. Mr. Morea has also worked for AT&T in 1983 and 1984, during the period of its divestiture of the local telephone companies, and for Coopers & Lybrand from 1977 through 1982 in its Mergers and Acquisitions practice following his graduation from law school.
Mr. Morea is a member of the New York State Bar and is a certified public accountant.
Representative Transactions
Lead partner on roll-up acquisition program of USI Insurance Services from its inception in 1994 through 1999. During this period, USI acquired approximately 100 privately-held insurance brokerage businesses, having an aggregate of approximately $300 million in revenues. Mr. Morea also represented USI on various acquisitions since the company went public.
Lead partner on roll-up acquisition program of Americana Holdings (now known as American Wholesale Insurance Group) in 1999 and 2000. During this period, Americana acquired several privately-held insurance brokerage businesses, having an aggregate of approximately $30 million in revenues.
Lead partner on roll-up acquisition program of Alliant Resources Group. Since its inception, Mr. Morea has represented Alliant in acquiring several privately-held insurance brokers and pension plan product distributors, having an aggregate of approximately $200 million in revenues. Mr. Morea has also represented Alliant on strategic hires of employees with large books of businesses.
Represented several management teams in acquiring their insurance brokerage businesses from their respective employers.
Represented several sellers of insurance brokerage businesses.
Represented buyers and sellers of businesses in the financial intermediary, publishing, cosmetics, home care products, e-commerce and web-based advertising sectors.
Represented issuers in private equity capital raises in excess of $75 million and borrowers in senior loan facilities in excess of $200 million.
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