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Kelso & Company Completes $9.83 Billion Sale of Accession Risk Management Group to Brown & Brown, Inc.
NEW YORK, August 13, 2025--Kelso & Company, L.P. ("Kelso"), a leading middle-market private equity firm, announced it has completed the sale of its portfolio company, Accession Risk Management Group ("Accession," fka "Risk Strategies"), to Brown & Brown, Inc. (NYSE: BRO) ("Brown & Brown") in a primarily cash transaction valued at approximately $9.83 billion. This sale to a leading strategic acquiror represents one of the largest full private equity exits in insurance brokerage history, following
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[{"type":"text","content":"NEW YORK, August 13, 2025--(BUSINESS WIRE)--Kelso & Company, L.P. ("Kelso"), a leading middle-market private equity firm, announced it has completed the sale of its portfolio company, Accession Risk Management Group ("Accession," fka "Risk Strategies"), to Brown & Brown, Inc. (NYSE: BRO) ("Brown & Brown") in a primarily cash transaction valued at approximately $9.83 billion. This sale to a leading strategic acquiror represents one of the largest full private equity exits in insurance brokerage history, following Accession’s significant and consistent growth under Kelso’s ownership.","length":640,"tagName":"p"},{"type":"text","content":"Accession is a Boston-based national insurance services platform that goes to market via its two subsidiary brands, Risk Strategies and One80 Intermediaries ("One80"). Risk Strategies is a leading retail brokerage offering comprehensive risk management advice, insurance and reinsurance placement for property and casualty, employee benefits, private client services, as well as consulting services and financial and wealth solutions. One80, established by Accession in 2019, has scaled rapidly to become a leading insurance wholesaler and program manager, with offices in more than 55 locations throughout the US and Canada.","length":635,"tagName":"p"},{"type":"text","content":"In 2015, Kelso and Accession partnered to transform a regional retail insurance broker into a premier national insurance distribution platform. Under Kelso’s ownership, Accession expanded significantly through both organic growth and more than 180 acquisitions, increasing revenue to $1.7 billion from $130 million of revenue at Kelso’s initial investment. From 500 employees at Kelso’s acquisition, the platform has grown to employ ~5,500 professionals, serving a diverse base of clients. The sale to Brown & Brown unites two leading insurance distribution businesses and is the capstone of a decade-long partnership between Kelso and Accession management and employees.","length":675,"tagName":"p"},{"type":"text","content":""We are incredibly proud of Accession’s extraordinary growth and success," said Steve Dutton, Partner at Kelso & Company. "Through disciplined execution of our value creation plan and excellent partnership between management and Kels...