BRP Group closes acquisition of Westwood Insurance Agency; borrows $380M to fund deal

Baldwin Insurance Group, Inc.

Acquired all outstanding equity of Westwood Insurance Agency on April 29, 2022; financial terms not disclosed.
Borrowed $380M under revolving credit facility to fund acquisition and for general working capital.
Total debt outstanding under credit facility now $530M; remaining availability $70M; facility matures 2027.
Acquisition is part of BRP's ongoing Partnership (M&A) strategy in insurance distribution.

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