Accession Risk Management Group closes $1 billion financing

Accession Risk Management Group , the parent company of Risk Strategies and One80 Intermediaries comprising North America’s ninth largest privately held insurance broker, has secured a $1 billion debt raise and refinancing. This funding will boost growth through further acquisitions of specialty brokerages and targeted organic expansion.

Accession, a portfolio company of private equity firm Kelso & Co. since 2015, completed the financing with a $900 million delayed draw term loan and a $100 million increase to its revolving credit line. Golub Capital led the transaction.

Last year, Accession made 32 acquisitions and grew revenue by 25%, reaching $1.5 billion on a pro forma basis.

“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. 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.” – John Mina, Global CEO, Accession Risk Management Group.

“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. This financing will help propel the further expansion of our North American market share and also hasten our ability to explore complementary international opportunities.” – Sharon Edwards, CFO, Accession Risk Management Group.