SOURCE: Mitchell International
October 27, 2016 12:39 ET
SAN DIEGO, CA--(Marketwired - Oct 27, 2016) - Mitchell International, a leading provider of technology, connectivity and information solutions to the Property & Casualty insurance and collision repair industries today announced the closing of a $50 million senior secured first lien term loan. The term loan is an add-on under Mitchell's existing Credit Agreement.
Mitchell expects to use the proceeds of the term loan to continue its track record of investing in technologies that drive better outcomes in the markets it serves. Mitchell seeks to simplify the claim handling process across the Auto Physical Damage, Casualty and Pharmacy sectors. The company's deep expertise in data, technology and connectivity helps its clients make better, more informed decisions at key points in the claims lifecycle.
"We are thrilled that investors continue to show confidence in Mitchell," said Alex Sun, CEO of Mitchell. "Our ability to attract capital allows us to deliver on our mission to achieve better outcomes for our clients. We look forward to expanding and enhancing our capabilities to support our clients in restoring their customers' lives after a challenging event."
About Mitchell International
Headquartered in San Diego, California, Mitchell International, Inc. is celebrating its 70th year of enabling better business outcomes for its customers. Mitchell delivers smart technology solutions that simplify and accelerate claims handling and repair processes, driving more accurate, consistent, and cost-effective resolutions. Mitchell integrates deep industry expertise into workflow solutions, which provide unparalleled access to data, advanced analytics and decision support tools. Mitchell's comprehensive solution portfolio and robust SaaS infrastructure connect its customers in ways that enable tens of millions of electronic transactions to be processed each month for more than 300 insurance companies, over 30,000 collision repair facilities and countless other Property & Casualty industry supply partners across the Americas and Europe. For more information, please visit www.mitchell.com.
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