Ryan Specialty completes acquisition of US Assure for $1.075B cash plus up to $400M earnout

RYAN SPECIALTY HOLDINGS, INC.

Acquisition closed Aug 30 for $1.075B cash plus up to $400M earnout based on performance targets.
Borrowed $850M under revolver at SOFR+2.25% to partially fund acquisition; bridge facility not used.
US Assure is a leading program specializing in builder's risk insurance; will be part of Underwriting Managers Specialty.
Revolving credit facility has $549.6M undrawn capacity after borrowing; matures in 2029.

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