M&A
confidence high
sentiment positive
materiality 0.70
BRP Group to acquire WGB assets for $114M cash, stock; close Dec 1, 2021
Baldwin Insurance Group, Inc.
- Upfront consideration: ~$114M cash, 201,189 shares of Class A common stock, and 696,897 BRP LLC units exchangeable for Class A shares.
- Additional holdback of $9.8M cash and 21,824 shares for assets not transferable at close.
- Contingent consideration up to ~$49.6M based on post-closing revenue performance targets.
- Transaction expected to close December 1, 2021, subject to conditions; securities issued in private placement exempt under Section 4(a)(2).