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It is understood that the TPA is working with Waller Helms on the process. -
Carlyle re-launched efforts to find minority investor last June.
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Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process.
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The executive spent over 15 years at Aon in various M&A-related positions.
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The MGA platform will become part of Ryan Specialty Underwriting Managers.
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The retail broker upsized its revolving credit and delayed draw term facilities.
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Sources said that Piper Sandler is running the sale process for the ~$50mn Ebitda business.
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Sources said that a deal between the two sides could be reached in the next couple of weeks.
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Deal flow is still far below levels seen in 2021.
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The move comes less than a year after AssuredPartners’ sale process reached a stalemate.
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Altas joins current investors Carlyle and Stone Point Capital.
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Neil Strong, Richard Holden and Jonathan Reiss have also joined as the leadership team is built out.
