Ryan Specialty Holdings, Inc. signed a definitive agreement to acquire Castel Underwriting Agencies Limited from Arch Financial Holdings (UK) Limited and other minority shareholders.

Ryan Specialty Holdings, Inc. (NYSE:RYAN) signed a definitive agreement to acquire Castel Underwriting Agencies Limited from Arch Financial Holdings (UK) Limited and other minority shareholders on December 21, 2023. Castel Underwriting Agencies has reported revenue of approximately £35 million for the twelve months ended November 30, 2023. Castel team will join Ryan Specialty.

The transaction is subject to regulatory approvals and customary closing conditions. The acquisition is expected to close during the first half of 2024. Aprajita Dhundia, Jiri Peterka, Joanna Thomson, Mavnick Nerwal, Sara B. Zablotney, P.C., Adam Kool, P.C., Vanessa Walters, Emma Reid, Robert M. Hayward, P.C., Robert Goedert, P.C., Craig Garvey and Rajab S. Abbassi, P.C. of Kirkland & Ellis International LLP and Kirkland & Ellis LLP acted as legal advisors to Ryan Specialty Holdings.

Merrill Lynch International acted as financial advisor to Arch Financial Holdings (UK) Limited. RPC has advised the management sellers of Castel Underwriting Agencies Limited.