Accession Risk Management Group Closes $1 Billion Deal to Accelerate Growth of Risk Strategies and One80 Intermediaries
Accession Risk Management Group, the parent company of Risk Strategies and One80 Intermediaries, and North America’s ninth largest privately held insurance broker, announced the success completion of a $1 billion incremental debt raise and refinancing. A portfolio company of Kelso & Co., one of the nation’s most established private equity firms, Accession Risk Management Group has partnered with Risk Strategies since 2015.
The funding includes a $900 million delayed draw term loan, expanding the company’s unitranche loan, and a $100 million increase to its revolving line of credit. It aims to further accelerate the company’s impressive growth, driven by the acquisition of leading specialty brokerages and focused organic expansion.
“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.”
Golub Capital served as the administrative agent, lead arranger, and joint bookrunner in the oversubscribed transaction.
Risk Strategies continues to go from strength to strength as it expands across the country
In 2023, Accession Risk Management Group, led by a deeply experienced management team, executed a record 32 new acquisitions, achieved significant organic growth, and posted a 25% year-over-year revenue increase, reaching $1.5 billion on a pro forma basis. These results have enabled continued strategic investments in technology and operations while creating a workplace that attracts top talent, recently earning the company certification as a 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.”
