Acrisure secures $2.1 billion funding round led by Bain Capital
Acrisure has entered into a definitive agreement for the issuance of new convertible senior preferred stock in a $2.1 billion capital raise led by Bain Capital. Funds from the round will be used to refinance a portion of its existing non-convertible preferred stock, pursue strategic accretive M&A and accelerate its development as a tech-enabled financial services platform.
Acrisure is now valued at $32 billion, which is 40% higher since its last institutional capital raise three years ago.
The investors involved in the transaction include Bain Capital Special Situations, Fidelity Management & Research Company, Apollo Funds, Gallatin Point Capital, BDT & MSD Partners, and a consortium of other investors. No existing investor exited as part of this transaction. BDT & MSD remains the largest minority shareholder in Acrisure through affiliated funds.
Going forward, Acrisure will continue to expand its footprint and product offerings through strategic, accretive M&A, fully integrating the platform created through its previous 900 acquisitions, and driving organic growth with its robust suite of tailored offerings, which now includes real estate services, cybersecurity tools, payroll and payment processing, and retirement/wealth solutions.
“This transaction represents a significant milestone and serves as proof that our vision for Acrisure’s scaled platform has become a reality. Our evolution from an insurance brokerage into an AI- and technology-powered global financial services provider has opened the door to massive opportunity. I see limitless potential for how far Acrisure can go, and we’re extremely grateful for the financial support and validation from our investors.” – Greg Williams, Chairman, CEO and Co-founder of Acrisure.
“Greg and his talented leadership team have built an impressive business that is clearly differentiated by its combination of entrepreneurial DNA, cutting-edge technology capabilities and deep industry expertise. We are pleased to be selected as Acrisure’s partner of choice on this transaction and look forward to supporting their continued growth strategy as the Company builds on its success delivering the right personalized insurance and business solutions to its clients.” – Cristian Jitianu, Partner at Bain Capital.
