ACORDIA

Investment Date: August 1997

Acordia is a national insurance brokerage firm, serving medium-sized commercial clients.

In August 1997, Wand led an investor group (including Banc of America, First Union, High Ridge Capital and Knightsbridge Capital) in a management buyout of Acordia from Anthem, a major health care provider.

Acordia was successfully reorganized an as independent company with a reduced cost structure and enhanced systems. Several add-on acquisitions were integrated into the Acordia platform.

Acordia was sold to Well Fargo in 2001.