Specialist Risk Group acquires UK MGA in expansion move
14-01-2021
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By Insurance Times 2020-12-21T12:59:00
SRG has a pipeline of acquisitions planned for next year on the back of its fresh investment
Specialist Risk Group is poised for a fresh spree of acquisitions after being bought by US private equity form HGGC.
Speaking to
Insurance Times, chief executive Warren Downey said the firm has “big ambitions”, with acquisitions planned on the wholesale, retail, and MGA fronts following backing from its new investor.
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UK Broker, Specialist Risk Group, to Be Acquired by Private Equity Firm HGGC December 21, 2020
Specialist Risk Group (SRG), a London-based specialist insurance broker, announced it has signed a definitive agreement to be acquired by middle-market private equity firm HGGC.
SRG’s management team will invest alongside HGGC and continue to hold a significant stake in the business.
The private transaction is expected to close in Q1 2021, subject to regulatory approval. Financial details of the deal were not disclosed.
As part of the transaction, existing investor Pollen Street Capital will exit the business. SRG was formed by Pollen Street Capital through the acquisition of Miles Smith in 2018 and The Underwriting Exchange in 2019.
Specialist Risk Group to be acquired by HGGC
12/21/2020 | 07:06am EDT
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LONDON AND PALO ALTO, Calif., Dec. 21, 2020 /PRNewswire/ Specialist Risk Group ( SRG ), a fast-growing specialist insurance broker, today announced that it has signed a definitive agreement to be acquired by leading middle-market private equity firm HGGC. SRG s management team will invest alongside HGGC and continue to hold a significant stake in the business. The private transaction is expected to close in Q1 2021, subject to regulatory approval. As part of the transaction, existing investor Pollen Street Capital will exit the business.
SRG was formed by Pollen Street Capital through the acquisition of Miles Smith in 2018 and The Underwriting Exchange in 2019. Under the leadership of Group CEO Warren Downey, SRG is positioned for rapid organic and acquisition-based growth.