AmWINS Group, Inc. completed the acquisition of Connected Risk Solutions, LLC from BRP Group, Inc..
March 29, 2024
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AmWINS Group, Inc. signed a definitive agreement to acquire Connected Risk Solutions, LLC from BRP Group, Inc. (NasdaqGS:BRP) for approximately $58.9 million on January 26, 2024. BRP Group will receive the sale proceeds in cash. Connected Risk Solutions reported approximately $34 million of gross revenue and $5 million of adjusted EBITDA for the year 2023. With this deal, Amwins will gain approximately 40 Connected Risk Solutions colleagues, primarily located in Atlanta and Chicago. The transaction is subject to customary closing conditions and is expected to close on March 1, 2024. BRP Group expects the transaction to be neutral to 2024 adjusted EPS, and accretive to both 2024 organic growth and Adjusted EBITDA margin. Phil Trem, Gerard Vecchio of Marshberry Capital, LLC acted as financial advisor to Connected Risk Solutions, LLC.
AmWINS Group, Inc. completed the acquisition of Connected Risk Solutions, LLC from BRP Group, Inc. (NasdaqGS:BRP) on March 1, 2024.
BRP Group, Inc. is an independent insurance distribution company delivering tailored insurance and risk management insights and solutions. It is divided in three operating groups: Insurance Advisory Solutions (IAS), Underwriting, Capacity & Technology Solutions (UCTS), and Mainstreet Insurance Solutions (MIS). IAS provides commercial risk management, employee benefits solutions and private risk management for businesses and high-net-worth individuals, as well as their families. UCTS consists of three businesses: specialty wholesale broker businesses and niche industry businesses; MGA of the Future platform, and reinsurance brokerage business, Juniper Re. MIS offers personal insurance, commercial insurance, and life and health solutions to individuals and businesses in their communities, with a focus on accessing clients via sheltered distribution channels, which include new home builders, mortgage originators/lenders, master planned communities and other community centers of influence.