Genstar Capital has completed the previously announced $2.9 billion buyout of Acrisure, under the initiative of Acrisure chief executive and co-founder Greg Williams and a consortium of minority investors.
Genstar acquired Acrisure in 2013, and has closely worked with its executive team to expand the latter’s geographic footprint and broaden its insurance offerings.
Through its partnership with Genstar, the insurance firm has widened its presence with the acquisition of 138 retail insurance brokerages and generated organic growth. Meanwhile, Genstar believes it has benefitted from the acquisition by evolving its expertise in the insurance sector.
Acrisure also made heavy investments in data and analytics tools, and in its management team to propel it to become one of the top 15 insurance brokers in the US. Currently, it posts annual revenues of almost $700 million.
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