AmWINS Group, Inc. signed a definitive agreement to acquire Connected Risk Solutions, LLC from BRP Group, Inc. for approximately $58.9 million.

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.