Brown & Brown to Acquire Accession Risk Management Group – RVBusiness – Breaking RV Industry News
DAYTONA BEACH, Fla. – J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE: BRO), and John Mina, chief executive officer of Accession Risk Management Group Inc., today announced that Brown & Brown has entered into an agreement to acquire RSC Topco Inc., the holding company for Accession.
The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals. Under the terms of the agreement, Brown & Brown will acquire RSC on a cash and debt-free basis at the time of acquisition for a gross purchase price of $9.825 billion. The parties previously submitted filings in respect of the Transaction under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the waiting period for such filings has already expired.
Accession, established in 1997 and currently the ninth largest privately held insurance brokerage in the United States, is the parent to Risk Strategies, a dynamic specialty brokerage firm, and One80 Intermediaries, a leading insurance wholesaler and program manager. Composed of over 5,000 insurance professionals throughout the U.S. and Canada and with 2024 pro forma adjusted revenues of approximately $1.7 billion, Accession is known for its specialization, deep customer relationships and high-performing culture.
“We are excited to welcome the Accession team to Brown & Brown,” said J. Powell Brown, president and chief executive officer of Brown & Brown. “Combining with Risk Strategies and One80 represents a unique opportunity to bring the best of both organizations to the forefront, enabling us to augment and strengthen our collective growth. The brokerage business built by Mike Christian and John Mina and the wholesaler and program manager business built by Matthew F. Power bring complementary and added capabilities that, when aligned with the broader Brown & Brown organization, further position us to extend our reach and consistently deliver for our customers through enhanced market relationships and expanded offerings. We are confident we will be better together as a combined organization.”
John Mina, chief executive officer of Accession, shared, “Over the course of nearly 30 years, Accession has advanced an innovative, specialist approach to risk management that has enabled our customers to protect what matters most and produced meaningful value to our shareholders, associates and partners. As we began contemplating the next major leap in our journey, we were adamant that any potential partner must have the capability and conviction to strengthen our ability to create an industry powerhouse, win amid industry consolidation, lead through innovation and champion our cultural values. We are pleased to have found that in Brown & Brown. This is a one-of-a-kind, ‘great acquires great’ transaction, with each company sharing deep commitments to our teammates – and teammate ownership – strong customer relationships and specialization across core business segments.”
Following the close of this transaction, the Risk Strategies team will become part of Brown & Brown’s Retail segment, and John Mina will join the Retail senior leadership team. The business will remain aligned with Brown & Brown’s decentralized sales and service model, while gaining access to Brown & Brown’s global resources, specialty capabilities and collaborative network. In connection with the closing of the acquisition, Brown & Brown will combine its Programs and Wholesale Brokerage segments into a new Specialty Distribution segment, which will be led by Steve Boyd and Chris Walker. One80 Intermediaries will join the operations of our new Specialty Distribution segment, with Matt Power joining the segment’s senior leadership team.
Anticipated key benefits of this acquisition include:
- Combining two culturally aligned organizations that share the same core values, including a strong entrepreneurial spirit, a passion for creating the best solutions for our customers, a focus on significant teammate equity ownership and a commitment to pursuing profitable growth.
- Ability to enhance relationships with our customers and carrier partners through highly complementary businesses across insurance distribution channels.
- Increased ability to deliver high-quality and diverse trading platforms for insurance carrier partners with greater breadth and depth of placement opportunities.
- Expanded access and a market-leading portfolio of niche solutions for our customers to meet the complex needs of policyholders.
- Financially compelling, driving shareholder value through anticipated revenue and cash flow growth; acquired operations estimated to be accretive to Brown & Brown’s 2024 adjusted diluted net income per share.
Conference Call Information
A conference call to discuss this transaction will be held on Tuesday, June 10, 2025, at 8:00 AM (EDT). To listen and view the associated slides, visit www.bbrown.com and click on “Investor Relations” and then “Calendar of Events.”
Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Brown & Brown in the transaction. BofA Securities and J.P. Morgan Securities acted as financial advisors and provided committed financing to Brown & Brown.
