Investment Summary

Alchemy Partners Exits Apollo

On September 2, 2025, Skyward Specialty Insurance invested in insurance company Apollo from Alchemy Partners for 555M USD

Investment Highlights
  • This is Skyward Specialty Insurance’s 6th transaction in the Insurance sector.
  • This is Skyward Specialty Insurance’s largest (disclosed) transaction.
  • This is Skyward Specialty Insurance’s 1st transaction in the United Kingdom.

Investment Summary

Date 2025-09-02
Target Apollo
Sector Insurance
Investor(s) Skyward Specialty Insurance
Sellers(s) Alchemy Partners
Deal Type Add-on Acquisition
Deal Value 555M USD
Advisor(s) Evercore Group
Howden Capital Markets & Advisory (Financial)
Willkie Farr & Gallagher (Legal)

Target

Apollo

London, United Kingdom
Apollo is an insurance platform, offering data-driven and creative solutions to a wide variety of risks. The company offers products across Property, Casualty, Marine, Energy & Transportation, Specialty, Reinsurance, as well as Smart Follow and digital & embedded risk programs. Apollo is based in London.

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Investor(S) 1

Investor

Skyward Specialty Insurance

Houston, Texas, United States

Category Company
Founded 2006
Sector Insurance
Employees580
Revenue 1.1B USD (2024)
DESCRIPTION

Skyward Specialty is a property and casualty insurance holding company. The company has businesses in specialty lines including management and professional liability, medical stop-loss, surety, E&S property and liability, and large commercial property, programs, as well as multi-line solutions for the energy, trucking, and construction industries. Skyward Specialty was formed in 2006 and is based in Houston, Texas.


DEAL STATS #
Overall 6 of 6
Sector: Insurance M&A 6 of 6
Type: Add-on Acquisition M&A Deals 5 of 5
Country: United Kingdom M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-20 Skyward Specialty Insurance Group - XPro Business

Houston, Texas, United States

Skyward Specialty Insurance Group's XPro Business provides solutions for the Pest Control industry.

Sell -

Seller(S) 1

SELLER

Alchemy Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1997
PE ASSETS 4.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Alchemy Partners is a private equity firm that targets investments in the UK, Ireland, and German-speaking Europe. Alchemy looks to commit £25 to £150 million per transaction in areas including financial services, information technology, and telecoms. Historically, the Firm primarily targeted leveraged buyouts, buy-ins, and growth capital financings, but today Alchemy specializes in distressed and undervalued or underperforming businesses. Alchemy Partners was formed in 1997 and is based in London.


DEAL STATS #
Overall 15 of 15
Sector: Insurance M&A 4 of 4
Type: Add-on Acquisition M&A Deals 11 of 11
Country: United Kingdom M&A 11 of 11
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Heartwood Collection

Teddington, United Kingdom

Heartwood Collection operates two food-led concepts. WBC is a food-led pub business in the UK. Brasserie Blanc is a French brasserie group with iconic high street and hotel locations. Heartwood Collection was formed in 1996 and is based in Teddington, United Kingdom.

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