Acrisure, a global insurance broker, today announced the closing of two transactions representing a significant capital raise and validation of the company’s tech-enabled value proposition.
BDT Capital Partners, a merchant bank that provides family and founder-led businesses with long-term, differentiated capital, led a $3 billion investment, through its affiliated investment funds, into Acrisure’s senior preferred stock. In addition, a consortium of investors has invested $454 million of new capital in junior preferred stock.
“These transactions are a clear reflection of how the market is valuing both the strength of our existing insurance brokerage business and, importantly, our vision for accelerating our technology initiatives going forward,” said Greg Williams, co-founder, president and CEO of Acrisure. “These investments enable us to pursue strategic initiatives with aligned capital that will provide greater value for all shareholders.”
“Acrisure is an innovative leader in an attractive industry with a very strong management team led by Co-Founder Greg Williams,” said Byron Trott, founder, chairman and CEO of BDT Capital Partners. “We look forward to a long-term partnership with Greg and his team, consistent with our business model of providing patient capital to founder and family-led businesses, while leveraging our network of closely held business owners and investors to support the company’s growth and expansion.”
J.P. Morgan served as placement agent to Acrisure on the junior preferred stock offering.