Davis Polk, Skadden Steer Insurer's Potential $246M IPO

Law360 (October 11, 2019, 5:11 PM EDT) -- Insurance broker BRP Group Inc. on Friday set a price range for an initial public offering estimated to raise $246 million, steered by Davis Polk & Wardwell LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP.

Tampa, Florida-based BRP plans to offer 16.4 million shares priced between $14 and $16, raising $246 million at midpoint. The IPO is scheduled to price on Oct. 23, according to research firm Renaissance Capital.

The company said IPO proceeds will be used mostly to acquire newly issued units from Baldwin Risk Partners LLC, the entity through which BRP conducts its business. Baldwin Risk...

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