Accession Risk Management Group (Risk Strategies and One80 Intermediaries’s parent company comprising North America’s ninth-largest privately held insurance broker) announced it had closed a $1 billion incremental debt raise and refinancing. This funding will accelerate a growth trajectory driven by the continued acquisition of leading specialty brokerages and targeted organic expansion.
Accession Risk Management Group—a portfolio company of Kelso & Co., one of the country’s most established private equity firms—has partnered with Risk Strategies since 2015. The recent oversubscribed financing includes a $900 million delayed draw term loan, an increase to the company’s unitranche loan, and a $100 million increase to its revolving line of credit.
Headed by a deeply experienced management team, Accession Risk Management Group executed a record 32 new acquisitions last year with a sophisticated 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.
Golub Capital acted as an administrative agent, lead arranger, and joint bookrunner in the transaction.
KEY QUOTES:
“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. 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.”
- John Mina, Global CEO, Accession Risk Management Group
“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. This financing will help propel the further expansion of our North American market share and also hasten our ability to explore complementary international opportunities.”
- Sharon Edwards, CFO, Accession Risk Management Group
