Thoma Bravo to Acquire Accelerant for $4 Billion in Cash

Accelerant Holdings (ARX) entered into a merger agreement on August 13, 2026, to be taken private by Thoma Bravo in a deal valued at $4 billion.

Deal Structure:

Accelerant Class A and Class B stockholders will receive $20.25 per share in cash, representing a premium of 48.79% from the stock’s last close.

Company Profile:

Accelerant is a data-driven specialty insurance platform that connects insurance underwriters with risk capital providers. It earns fees from sourcing, managing, and underwriting insurance portfolios, with additional revenue from its underwriting operations.

Thoma Bravo is a private equity and private credit investment firm focused primarily on software and technology companies. It manages over $172 billion in assets and has invested in or acquired approximately 590 companies.

Deal Details and Timeline:

If the closing of the transaction is delayed due to pending insurance regulatory approvals, shareholders will be entitled to a ticking fee accruing at 6% per annum for the period.

The deal is expected to close in the first half of 2027.

Altamont Capital Partners-affiliated entities, which hold roughly 82% of the voting shares, have agreed to vote in favor of the transaction.

Thoma Bravo has committed to provide the equity financing required to fund the purchase.

Altamont and the company’s founders plan to continue owning a stake in the company alongside Thoma Bravo.

Morgan Stanley is serving as exclusive financial advisor to Accelerant. Paul Hastings is serving as U.S. legal counsel, and Maples Group as Cayman Islands legal counsel to Accelerant. Houlihan Lokey is serving as financial advisor, and Conyers Dill & Pearman as legal counsel, to the Special Committee. Goodwin Procter is serving as legal counsel, and Walkers as Cayman Islands legal counsel to Thoma Bravo. BMO Capital Markets and Wells Fargo are serving as financial advisors to Thoma Bravo.

Thoma Bravo is acquiring Accelerant at 17.7 times its EBITDA.

Deal Metrics:

For more in-depth information regarding this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Accelerant Holdings (ARX) by Thoma Bravo

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article