M&A Deal Summary

BroadRiver Acquires Axcelus Financial

On November 30, 2023, BroadRiver acquired insurance company Axcelus Financial from Lombard International Group

Acquisition Highlights
  • This is BroadRiver’s 1st transaction in the Insurance sector.
  • This is BroadRiver’s 1st transaction in the United States.
  • This is BroadRiver’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2023-11-30
Target Axcelus Financial
Sector Insurance
Buyer(s) BroadRiver
Sellers(s) Lombard International Group
Deal Type Divestiture

Target

Axcelus Financial

Philadelphia, Pennsylvania, United States
Axcelus Financial is a provider of private placement life insurance and annuities to individuals and institutions with over $13 billion of assets under administration as of December 31, 2023. Axcelus Financial is based in Philadelphia, Pennsylvania.

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Buyer(S) 1

Buyer

BroadRiver

New York, New York, United States
Category Company
Founded 2009
Sector Business Services
DESCRIPTION

BroadRiver specializes in uncorrelated, alternative fixed-income strategies and insurance-related investments. BroadRiver was formed in 2009 and is based in New York, New York.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1

Seller(S) 1

SELLER

Lombard International Group

Luxembourg, Luxembourg
Category Company
Sector Financial Services
DESCRIPTION

Lombard International Group is a provider of insurance-based wealth, estate and succession planning solutions for upper affluent, high net worth and ultra-high net worth individuals, families and institutions.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Mergr

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