Amwins Completes $1 Billion Recapitalization Transaction

Wholesale broker Amwins Group, Inc. said it completed a $1 billion recapitalization transaction with its existing shareholder group.

Dragoneer Investment Group, Genstar Capital, SkyKnight Capital, and employee shareholders purchased $1 billion in equity from more than 375 Amwins employee shareholders and Public Sector Pension Investment Board. PSP rolled 80% of their equity position forward. After the completion of the recapitalization transaction, the employee shareholder group will remain the largest single ownership group with approximately 40% ownership of Amwins.

The transaction marks a continuation of Amwins’ philosophy of long-term employee and institutional ownership allowing for unique perpetuation of the company and ample liquidity opportunities for employee and institutional investors – all without the need for outside capital-raising efforts.

“We were intentional in building a long-term capital structure with our current institutional investors and are excited to have this strategic group continue as our partners. As a private company, we believe in providing our shareholder base periodic opportunities for liquidity. Through the combination of dividends and sale opportunities, we have provided our shareholders with over $4.1 billion in liquidity since 2018,” said Scott Purviance, CEO of Amwins. “Having an existing shareholder base looking to increase their investment speaks to the stability and growth prospects for our business. Our shareholders’ long-term investment mindset uniquely positions us to focus on our clients and enhances our ability to execute our 150-year vision.”

SOURCE: Amwins Group

Topics Mergers & Acquisitions