Thoma Bravo has agreed to acquire insurance marketplace Accelerant in an all-cash transaction valued at more than $4bn, taking the company private just over a year after it floated on the New York Stock Exchange, according to a report by Reuters.
Under the terms of the deal, Accelerant shareholders will receive $20.25 a share, a premium of approximately 49% to the company’s previous closing price. Accelerant shares surged almost 44% in early trading following the announcement.
The transaction is expected to close during the first half of 2027, subject to regulatory approvals, and will bring a short-lived period as a public company to an end.
Accelerant’s shares had traded below their $21 IPO price for much of the past year, despite the business continuing to expand. RBC analyst Rowland Mayor described the transaction as a favourable outcome given the volatility in financial markets and the gap that had emerged between Accelerant’s underlying business performance and its stock valuation.
Founded in 2018, Atlanta-based Accelerant operates a technology-driven marketplace that connects specialist insurance underwriters with institutional capital providers. Its platform uses data and analytics to streamline the placement and management of specialty insurance risks.
The acquisition expands Thoma Bravo’s presence in insurance technology and data businesses. The software-focused private equity firm, which managed more than $172bn in assets as of the end of March, has previously invested in the sector through portfolio companies including Nearmap, whose acquisition of insurance technology provider itel was completed last year for more than $1.3bn.
Accelerant’s largest investor, Altamont Capital Partners, and the company’s founders are expected to remain invested in the business alongside Thoma Bravo following completion of the transaction.
Shareholders will also be entitled to a 6% annual ticking fee if completion is delayed because of outstanding insurance regulatory approvals.
Morgan Stanley advised Accelerant’s board, while Houlihan Lokey advised the special committee established to assess the transaction. BMO Capital Markets and Wells Fargo advised Thoma Bravo.
