Accession Risk Management Group, the parent company of Risk Strategies and One80 Intermediaries, closed a $1 billion incremental debt raise and refinancing. The funding will further accelerate a growth trajectory driven by the continued acquisition of specialty brokerages and targeted organic expansion.
The recent, oversubscribed financing includes a $900 million delayed draw term loan, increasing the company’s unitranche loan, and a $100 million increase to its revolving line of credit. Golub Capital acted as administrative agent, lead arranger and joint bookrunner in the transaction.
“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,” John Mina, global CEO of Accession Risk Management Group, said. “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.”
“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,” Sharon Edwards, chief financial officer of Accession Risk Management Group, said. “This financing will help propel the further expansion of our North American market share and also hasten our ability to explore complementary international opportunities.”
