Dragoneer Inks Deal For New Mountain's AmWINS Stake
By Joyce Hanson (October 12, 2016, 1:44 PM EDT) -- Insurance company AmWINS Group Inc. of Charlotte, North Carolina, said Tuesday that its shareholders have agreed to partner with Dragoneer Investment Group, as private equity firm New Mountain Capital LLC sells out of its position in the broker, in a transaction that values AmWINS at approximately $2.6 billion.
San Francisco-based Dragoneer will own 35 percent of AmWINS upon completion of the deal, while the Canadian Public Sector Pension Investment Board will own 30 percent and roughly 440 AmWINS employee shareholders will own the remaining 35 percent, according to the companies. New Mountain Capital, headquartered in New York, said it is exiting...
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