BRP Group acquires FounderShield and TCG assets for $67M cash, stock, plus earnouts up to $107.6M

Baldwin Insurance Group, Inc.

FounderShield purchase: ~$26.7M cash, 304,628 BRP shares, 364,174 BRP LLC units; earns up to $77.6M contingent.
TCG purchase: ~$40.4M cash, 653,324 BRP LLC units; earns up to $30.0M contingent consideration.
Both acquisitions expected to close August 2, 2021, subject to customary closing conditions.
Securities issued in private placements exempt under Section 4(a)(2); subject to lockup restrictions.
Acquisitions are 'Partnership' structures via subsidiaries MSI and AHT/BRP Financial.

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