Specialist Risk Group (SRG), the London-based specialist insurance intermediary, announced that its acquisition by Warburg Pincus, a global growth investor, and Temasek, the Singapore-based investment company, has been completed.
With the necessary regulatory approvals now received, the partnership marks a pivotal moment in its journey, as it embarks on the next phase of its growth strategy that will help to internationalize its business, said SRG in a statement.
The deal values SRG at more than £1 billion ($1.3 billion) including debt, according to news reports in May when the deal was first announced.
The partnership with Warburg Pincus and Temasek underscores the strength of SRG’s business model and the confidence of these leading global investors in SRG’s vision and potential, SRG said.
The additional firepower from this investment will enable SRG to accelerate its growth, expand its specialist capabilities, and continue to deliver exceptional value to its clients across complex risk sectors, the company added.
“Securing Warburg Pincus and Temasek as our investment partners is not just an endorsement of our business model but a significant milestone that will shape the future of Specialist Risk Group,” commented Warren Downey, Group CEO of Specialist Risk Group.
“This partnership brings greater firepower and a strategic edge, enabling us to move decisively through the next chapter of our growth journey,” Downey added. “Our vision is to continue our people and culture obsession and specialist orientation whilst expanding internationally. With the support of Warburg Pincus and Temasek, we are uniquely positioned for the next chapter of the SRG story.”
“We are delighted to partner with the talented management team at Specialist Risk Group. SRG’s distinctive focus on specialist and complex insurance, and its unique people and culture approach, sets it apart,” according to James O’Gara, managing director at Warburg Pincus. “We believe our investment alongside Temasek will help to cement SRG’s leading position in the UK and creates a platform to expand internationally.”
Source: Specialist Risk Group (SRG)
Topics Mergers & Acquisitions
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