M&A Deal Summary

Brown & Brown Acquires Orchid

On February 28, 2022, Brown & Brown acquired insurance company Orchid from TowerBrook Capital Partners

Acquisition Highlights
  • This is Brown & Brown’s 86th transaction in the Insurance sector.
  • This is Brown & Brown’s 94th transaction in the United States.
  • This is Brown & Brown’s 13th transaction in Florida.

M&A Deal Summary

Date 2022-02-28
Target Orchid
Sector Insurance
Buyer(s) Brown & Brown
Sellers(s) TowerBrook Capital Partners
Deal Type Add-on Acquisition

Target

Orchid

Vero Beach, Florida, United States
Orchid is a managing general underwriter providing specialty property and casualty insurance products to homeowners, high net worth individuals and small businesses, primarily in coastal regions throughout the U.S. and the Caribbean. Orchid provides proprietary insurance solutions for hard-to-place risks to a growing, national network of retail agents and other strategic distribution partners. Orchid was founded in 1998 and is based in Vero Beach, Florida.

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Buyer(S) 1

Buyer

Brown & Brown

Daytona Beach, Florida, United States

Category Company
Founded 1939
Sector Insurance
Employees16,152
Revenue 4.7B USD (2024)
DESCRIPTION
Brown & Brown's headquarters in Daytona Beach, Florida.
Brown & Brown's headquarters in Daytona Beach, Florida.

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


DEAL STATS #
Overall 96 of 111
Sector: Insurance M&A 86 of 98
Type: Add-on Acquisition M&A Deals 92 of 107
State: Florida M&A 13 of 16
Country: United States M&A 94 of 105
Year: 2022 M&A 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-07 BdB

London, United Kingdom

BdB is a preeminent specialist wholesale broker providing access to specialty insurance products for insurance professionals in both the UK and the European markets. Today, the BdB Limited companies include BdB (UK) Limited, BdB Limited, BdB Europe SRL, Mithras Underwriting Limited, Mithras Underwriting Europe SRL, and Mithras Underwriting Italia SRL to ensure continued access to the European single market. BdB was formed in 1993 and is headquartered in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 GRP Group

London, United Kingdom

GRP Group is an independent insurance intermediary. GRP operates retail broking, specialist MGA, network, and Lloyd’s businesses, enabling the Group to serve the growing insurance and risk management needs of its clients. GRP Group was founded in 2013 and is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 22.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


DEAL STATS #
Overall 42 of 47
Sector: Insurance M&A 3 of 3
Type: Add-on Acquisition M&A Deals 20 of 22
State: Florida M&A 2 of 2
Country: United States M&A 22 of 24
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 PT Solutions

Atlanta, Georgia, United States

PT Solutions is a provider of physical therapy services through stand-alone, outpatient physical therapy clinics, hospitals, physician groups, and other partners. PT Solutions was founded in 2003 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 Stonebridge

Denver, Colorado, United States

Stonebridge manages and operates over 11,500 hotel rooms (67 hotels) across 13 states in the Midwest, Northeast, South, and West Coast markets. The Company provides hotel management services, hotel investment opportunities, and development services across its portfolio. Stonebridge was formed in 1991 and is based in Denver, Colorado.

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