Hagerty completes SPAC merger and hits $3.1bn valuation
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

Hagerty completes SPAC merger and hits $3.1bn valuation

Jairo Ibarra, 
Samuel Casey
December 03, 2021
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Hagerty logo corvette.jpg

Classic car MGA Hagerty has completed its merger with special purpose acquisition company (SPAC) Aldel Financial, valuing the business at around $3.1bn.

The SPAC merger included $704mn in fully committed PIPE financing led by strategic investors State Farm and Markel Corporation, and a group of institutional and private investors.

The

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News M&A Personal auto
jairo ibarra/jairo ibarra ii us.png
Jairo Ibarra
Senior Reporter
Contact
sam casey/sam casey ii us.png
Samuel Casey
Senior Reporter
Contact
Gift this article