Investment Summary

Kelso Exits Accession Risk Management Group

On June 10, 2025, Brown & Brown invested in insurance company Accession Risk Management Group from Kelso for 9.8B USD

Investment Highlights
  • This is Brown & Brown’s 98th transaction in the Insurance sector.
  • This is Brown & Brown’s largest (disclosed) transaction.
  • This is Brown & Brown’s 104th transaction in the United States.
  • This is Brown & Brown’s 4th transaction in California.

Investment Summary

Date 2025-06-10
Target Accession Risk Management Group
Sector Insurance
Investor(s) Brown & Brown
Sellers(s) Kelso
Deal Type Add-on Acquisition
Deal Value 9.8B USD

Target

Accession Risk Management Group

Sacramento, California, United States
Accession Risk Management Group is a provider of specialty insurance and risk management services. Accession Risk Management Group is based in Sacramento, California.

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Investor(S) 1

Investor

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 110 of 111
Sector: Insurance M&A 98 of 98
Type: Add-on Acquisition M&A Deals 106 of 107
State: California M&A 4 of 4
Country: United States M&A 104 of 105
Year: 2025 M&A 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-03 The Canopy Group

Belle Plaine, Minnesota, United States

The Canopy Group is a multiline insurance agency focusing primarily on personal lines and commercial property and casualty for small businesses. The Canopy Group is based in Le Sueur, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-12 Tire Shield

Saint Augustine, Florida, United States

Tire Shield provides administrative services to dealers and agents, offering tire and wheel road hazard products, as well as GAP waiver products, for the RV, Automotive, and Powersports Industries. Tire Shield was founded in 1997 and is based in Saint Augustine, Florida.

Buy -

Seller(S) 1

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 54 of 54
Sector: Insurance M&A 3 of 3
Type: Add-on Acquisition M&A Deals 25 of 25
State: California M&A 6 of 6
Country: United States M&A 47 of 47
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-29 ASB

Grovetown, Georgia, United States

ASB is a designer, manufacturer, and distributor of athletic-oriented apparel, team uniforms, sportswear and related accessories. ASB was founded in 1977 and is based in Grovetown, Georgia.

Sell -