Thoma Bravo to Acquire Accelerant Holdings in $4 Billion Deal
Altamont Capital Partners to retain equity stake in the transaction, which is expected to take the New York-listed insurer private by the first half of the year.
Shares in Accelerant Holdings (NYSE:ARX) surged 57 per cent week-on-week after software investment firm Thoma Bravo announced a $4 billion acquisition offer. The bid values the insurer at $20.25 per share, representing a 49 per cent premium over its Wednesday closing price. The announcement triggered significant buying activity on Thursday, making Accelerant Holdings the second-highest gainer on the exchange for the week.
The transaction is expected to close in the first half of the year, subject to customary regulatory and shareholder approvals. Upon completion, Accelerant Holdings will become a private company and delist from the New York Stock Exchange. To mitigate delays caused by pending insurance regulatory approvals, the agreement includes a clause paying Class A and B shareholders a ticking fee of 6 per cent per annum.
Entities affiliated with Altamont Capital Partners, which currently hold 82 per cent of the listed firm’s stake, intend to retain their equity ownership alongside Thoma Bravo. The specific terms for this retained stake will be finalised prior to the closing of the deal.
The acquisition follows strong second-quarter financial results for Accelerant Holdings, which reported net income soaring 511 per cent to $80 million, up from $13.1 million in the same period last year. Total revenues increased by 63 per cent to $356.9 million, compared to $219.1 million year-on-year.
Chief Finance Officer Linda Huber highlighted the durability of the business, noting that exchange written premium grew 23 per cent year-over-year with trailing twelve months premiums now at $4.6 billion. Fee-based operating revenue and adjusted EBITDA increased 56 per cent and 91 per cent, respectively, compared to the second quarter of 2025.
