New York-based New Mountain Capital has completed its recapitalization of Charlotte, N.C.-based AmWINS Group Inc., a distributor of specialty insurance products and services. Financial Technology Partners LP, Goldman Sachs & Co. and Willis Capital Markets & Advisory acted as financial advisors to AmWINS.
AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, announced today that the firm completed its recapitalization with New Mountain Capital, as announced on April 17, 2012.
“This new partnership is an important next step for the future of AmWINS,” said M. Steven DeCarlo, CEO of AmWINS. “As AmWINS celebrates its 10 year anniversary this month and partners with New Mountain, it means a new chapter of endless possibilities for our firm and how we serve our clients, distribute our carrier partners’ products, provide tools and resources for our employees and recruit new talent. In a relatively short time, New Mountain has already demonstrated that they are a true partner; together, we are excited to take our firm to the next level.”
“We are looking forward to working closely with the accomplished AmWINS team to further develop the company’s leading global independent specialty distribution platform,” said Alok Singh, Managing Director at New Mountain Capital.
Employee shareholders will continue to own more than one third of the company.
Financial Technology Partners LP, Goldman Sachs & Co. and Willis Capital Markets & Advisory acted as financial advisors to AmWINS. Credit Suisse and Macquarie Capital acted as financial advisors to New Mountain. The credit facility was co-led by Credit Suisse and Goldman Sachs.
About AmWINS Group, Inc.
AmWINS Group, Inc. is a leading wholesale distributor of specialty insurance products and services with expertise across a diversified mix of property, casualty and group benefits products. AmWINS also offers value-added services to support some of these products, including product development, underwriting, premium and claims administration and actuarial services. With over 2,400 employees located in 19 countries, AmWINS handles over $7 billion in premium annually through its four divisions: Brokerage, Underwriting, Group Benefits and International. For more information, please visit www.amwins.com .
About New Mountain Capital LLC
New Mountain Capital is a New York-based private equity firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private and public equity funds with approximately $9 billion in aggregate capital commitments. New Mountain seeks out the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.