Pamlico Capital portfolio company AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, has completed a recapitalization transaction with New Mountain Capital (“New Mountain”) at an enterprise value of approximately $1.3 billion.
The transaction completes a successful partnership between AmWINS and Pamlico Capital that began in November 2005, when Pamlico Capital was the first institutional investor in Colemont Insurance Brokers (“Colemont”), then one of the largest wholesale insurance brokerage distribution platforms in the U.S. Pamlico Capital became an investor in AmWINS through the merger of Colemont and AmWINS in April 2010. The recapitalization resulted in a successful exit of Pamlico Capital’s investment in AmWINS.
Headquartered in Charlotte, N.C., AmWINS is a leading specialty insurance broker placing over $7 billion of premiums through its relationships with more than 16,000 retail brokerage firms and more than 1,000 insurance carriers. AmWINS’ expertise covers a wide range of specialty insurance products and services in the property/casualty and group benefits insurance marketplace. With over 2,400 employees in 87 offices located across 19 countries, AmWINS’ deep industry knowledge and capabilities, extensive geographic reach and independent relationships with insurance carriers and retail insurance brokers allow it to serve as a critical intermediary in the complex and highly fragmented specialty insurance market.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity and buyout investments of up to $75 million alongside proven management teams in its target industries, business and technology services, communications and healthcare. The firm, based in Charlotte, NC, currently manages over $2 billion in assets. Please refer to http://pamlicocapital.com for additional information.