BRP Group closes acquisition of RogersGray for ~$138M cash plus equity

Baldwin Insurance Group, Inc.

Baldwin Krystyn Sherman Partners and Millennial Specialty Insurance acquired RogersGray assets.
Upfront consideration: $138.1M cash, 7,447 BRP Class A shares, and 1,950,232 BRP LLC units.
Additional contingent consideration up to ~$72.4M based on post-closing revenue targets.
Acquisition closed July 1, 2021; securities subject to transfer restrictions.

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