BRP Group acquires JGS for ~$163M cash plus units; 2021 acquired revenue outlook raised to $175-200M

Baldwin Insurance Group, Inc.

JGS acquisition: $163.2M cash + 1.8M BRP LLC units; up to $92.9M contingent consideration; close expected Oct 1, 2021.
Also acquired EBSME ($3M cash) and River Oak ($19M cash) in July/Aug 2021; both with earnouts.
2021 Acquired Revenue target raised to $175M-$200M; 2022 target $100M-$150M.
MGA of the Future policies in force at 652,666 (Sept 13, 2021), up 7.8% from June 30.
Filed pro forma financials reflecting acquisitions and new $500M Term Loan B and $475M revolver.

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