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  6. NSM Acquires ELMC Group

M&A Deal Summary

NSM Acquires ELMC Group

On March 20, 2023, NSM acquired insurance company ELMC Group from J.C. Flowers

Acquisition Highlights
  • This is NSM’s 17th transaction in the Insurance sector.
  • This is NSM’s 13th transaction in the United States.
  • This is NSM’s 2nd transaction in New York.

M&A Deal Summary
Date 2023-03-20
Target ELMC Group
Sector Insurance
Buyer(s) NSM
Sellers(s) J.C. Flowers
Deal Type Add-on Acquisition

Target

ELMC Group

New York, New York, United States
ELMC Group is a manager of premier, full-service managing general underwriters (“MGUs”) specializing in underwriting medical stop-loss insurance. ELMC Group was founded in 2013 and is based in New York, New York.

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Buyer(S) 1

Buyer

NSM

Conshohocken, Pennsylvania, United States
Category Company
Founded 1990
Sector Insurance
DESCRIPTION

NSM is a full-service MGA and program administrator for specialty property & casualty insurance. The company places insurance in niche sectors such as special transportation, social services, real estate, and pet. On behalf of its insurance carrier partners, NSM typically manages all aspects of the placement process, including product development, marketing, underwriting, policy issuance, and claims. NSM was established in 1990 and is headquartered in Conshohocken, Pennsylvania.

DEAL STATS #
Overall 17 of 23
Sector: Insurance M&A 17 of 23
Type: Add-on Acquisition M&A Deals 15 of 21
State: New York M&A 2 of 3
Country: United States M&A 13 of 17
Year: 2023 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-20 Sequoia Reinsurance Services

Plymouth, Minnesota, United States

Sequoia Reinsurance Services specializes in a niche health reinsurance market to support clients and brokers with best-in-class service, underwriting, actuarial, cost containment, claims, and reinsurance-based risk management services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-29 Acquis

Newport, United Kingdom

Acquis is an independent insurance broker and administrator that provides specialist solutions to the finance and leasing industry. Acquis was founded in 2009 and is based in Newport, United Kingdom.

Buy -

Seller(S) 1

SELLER

J.C. Flowers

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

JC Flowers is a specialist private equity firm that targets investments in the financial services sector. JC Flowers looks for distressed opportunities in North America, Western Europe, and Asia. JC Flowers was formed in 1998 and is based in New York City with an additional office in London.

DEAL STATS #
Overall 17 of 19
Sector: Insurance M&A 6 of 7
Type: Add-on Acquisition M&A Deals 5 of 6
State: New York M&A 2 of 2
Country: United States M&A 7 of 8
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-17 Yes Bank - Nonperforming Assets

Mumbai, India

Yes Bank's Nonperforming Assets consists of nonperforming and underperforming large corporate loans with significant real estate and infrastructure assets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-03 Vericity

Chicago, Illinois, United States

Vericity is a direct-to-consumer life insurance solutions. As an innovator in product design and distribution, the company makes life insurance affordable and accessible for middle-market consumers. With national call centres, digital and digitally enabled sales and underwriting processes and quick policy issuance, customers can easily get the coverage they need at a price they can afford. Vericity is based in Chicago, Illinois.

Sell $170M
Mergr

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