New Mountain Capital Completes Partial Sale of Stake in AmWINS
04.20.15
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The Firm represented New Mountain Capital in connection with the sale by a New Mountain Capital affiliate and management and employees of AmWINS Group, Inc. (“AmWINS”) of a portion of their equity interests in AmWINS to an affiliate of the Public Sector Pension Investment Board, one of Canada’s largest pension investment managers (“PSP”). The investment by PSP values AmWINS at an enterprise value in excess of $2.3 billion.
Headquartered in Charlotte, N.C., AmWINS is a leader in the wholesale insurance industry, with expertise across a diversified mix of property, casualty and group benefits products. More than $10.8 billion in premium placements makes AmWINS the largest specialty insurance broker in the United States as ranked by Business Insurance magazine. AmWINS has extensive relationships with more than 20,000 retail insurance brokerage firms and more than 800 insurance underwriting markets.
The Simpson Thacher team working on this deal included Peter Gordon, Jona Lundborg, Erika Tang and Edward Bersuder (M&A); Tom Bell and Catherine Kidd (Funds); Gregory Grogan and Jennifer Pepin (Executive Compensation and Employee Benefits); John Creed and Jodi Sackel (Tax); Steven DeLott (Insurance); and Michael Naughton and Ken Ehrhard (Competition – M&A).