M&A Deal Summary

Brown & Brown Acquires The Wright Insurance Group

On January 15, 2014, Brown & Brown acquired insurance company The Wright Insurance Group from Aquiline Capital Partners for 602M USD

Acquisition Highlights
  • This is Brown & Brown’s 25th transaction in the Insurance sector.
  • This is Brown & Brown’s largest (disclosed) transaction.
  • This is Brown & Brown’s 26th transaction in the United States.
  • This is Brown & Brown’s 2nd transaction in New York.

M&A Deal Summary
Date 2014-01-15
Target The Wright Insurance Group
Sector Insurance
Buyer(s) Brown & Brown
Sellers(s) Aquiline Capital Partners
Deal Type Add-on Acquisition
Deal Value 602M USD
Advisor(s) SunTrust Robinson Humphrey, Inc. (Financial)

Target

The Wright Insurance Group

Uniondale, New York, United States
website
The Wright Insurance Group LLC is a provider of underwriting, claims, risk management and litigation management services to the education and public entity sectors for more than 20 years. Company have been serving the insurance needs of the food industry since 1995.

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Buyer(S) 1

Buyer

Brown & Brown

Daytona Beach, Florida, United States

website

Category Company
Founded 1939
Sector Insurance
Employees15,201
Revenue 3.6B USD (2022)
DESCRIPTION
Brown & Brown's headquarters in Daytona Beach, Florida.
Brown & Brown's headquarters in Daytona Beach, Florida.

Brown & Brown is a provider of insurance and reinsurance products and services to general business, corporate, governmental and quasi-governmental, institutional, professional, trade association and individual clients. Brown & Brown was incorporated in 1939 and is based in Daytona Beach, Florida.

DEAL STATS #
Overall 26 of 107
Sector (Insurance) 25 of 95
Type (Add-on Acquisition) 24 of 103
State (New York) 2 of 7
Country (United States) 26 of 102
Year (2014) 2 of 8
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-02 ICA

Charlotte, North Carolina, United States

ICA is a provider of outsourced catastrophe claims adjustment services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-24 Pacific Resources Benefits Advisors

Chicago, Illinois, United States

Pacific Resources Benefits Advisors, an independent employee benefits advisory firm working with Fortune-ranked and other large companies.

Buy -

Seller(S) 1

SELLER

Aquiline Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2005
PE ASSETS 2.1B USD
Size Large
Type Sector Focused
DESCRIPTION

Aquiline Capital Partners is a private equity firm that targets investments in the financial services sector. The Firm specifically invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing. Aquiline Capital was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 2 of 21
Sector (Insurance) 2 of 5
Type (Add-on Acquisition) 1 of 10
State (New York) 1 of 3
Country (United States) 1 of 14
Year (2014) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-26 Tourmalet Advisors

Fairfield, Connecticut, United States

Tourmalet Advisors is an SEC-registered alternative investment advisor that manages, invests in, structures, and trades distressed residential mortgage assets. The firm’s objective is to generate outsized returns through the purchase, servicing, and liquidation of non-performing residential whole loans.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-02 Clear2Pay NV/SA

Diegem, Belgium

Clear2Pay develops innovative payment technology for financial institutions, aimed at the safe, timely and smooth processing of internal payment traffic. Clear2Pay invests around EUR 5 million a year in researching and developing innovative payment technologies for use on a global scale.

Sell $493M
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