North America’s ninth largest privately held insurance broker poised to significantly expedite expansion of innovative specialty focused platform
Accession Risk Management Group, the parent company of Risk Strategies and One80 Intermediaries comprising North America’s ninth largest privately held insurance broker, has closed a $1 billion incremental debt raise and refinancing. The funding will further accelerate a remarkable growth trajectory driven by the continued acquisition of leading specialty brokerages and targeted organic expansion.
Accession Risk Management Group is a portfolio company of Kelso & Co., one of the country’s most established private equity firms, which has partnered with Risk Strategies since 2015. The recent, oversubscribed financing includes a $900 million delayed draw term loan, increasing the company’s unitranche loan, and a $100 million increase to its revolving line of credit. Golub Capital acted as administrative agent, lead arranger and joint bookrunner in the transaction.
“At a time when the insurance industry is rapidly evolving and risk management demands become increasingly complex, we are leading the way in reimagining the brokerage business through a novel, specialist-based model,” said John Mina, Global CEO, Accession Risk Management Group. “As we continue to grow our platform of top experts in their respective sectors, we remain uniquely positioned to be a true business partner to clients, providing the sophisticated perspectives and insights that enable decision-makers to stay ahead of changing market dynamics, not just keep pace with them.”
Led by a deeply experienced management team, Accession Risk Management Group executed a record 32 new acquisitions last year with a robust integration process, achieved strong organic expansion, and posted a 25% increase in year-over-year revenue, reaching $1.5 billion on a pro forma basis. This performance has fueled ongoing strategic investments in technology and operational infrastructure, as well as efforts to create a destination workplace for exceptional leaders and dynamic talent, with the company recently Certified™ by Great Place To Work®.
“Having firmly established an innovative and highly successful model, formidable U.S. presence and core competency in M&A, we continue to embrace the entrepreneurial mindset of a builder with a relentless focus on serving the needs of our clients, team members, and shareholders while creating value every step of the way,” said Sharon Edwards, CFO, Accession Risk Management Group. “This financing will help propel the further expansion of our North American market share and also hasten our ability to explore complementary international opportunities.”
About Accession Risk Management Group
Headquartered in Boston, Massachusetts, Accession Risk Management Group is the parent brand to a family of specialty insurance and risk management companies, including core operating platforms Risk Strategies and One80 Intermediaries, that currently places in the aggregate more than $15 billion in insurance premiums and $1.5 billion in combined revenues. Through its focused M&A growth strategy, more than 180 companies have joined the Accession family since 2014, bringing specialty expertise, repeated replenishment of entrepreneurial spirit, and a continued focus on meeting clients’ evolving needs in the insurance and risk management space. For more information visit: www.accessionrmg.com.
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