Specialist Risk Group acquired by American equity firm

Specialist Risk Group (SRG), the specialist insurance broker, has announced its acquisition by HGGC, a middle-market private equity firm, for an undisclosed fee.

The private transaction is expected to be completed by Q1 2021, subject to regulatory approval.

Pollen Street Capital, the company’s existing investor, will exit the business as part of a deal which will also see SRG continue to hold a “significant stake” in the group.

Warren Downey, CEO at SRG, said: “We are delighted to partner with HGGC, a firm that is completely aligned with our values as a culture and people-driven company. 

“We share a common ethos and expansive ambition, and I am tremendously excited for the next chapter of the SRG story.”

Based in California, HGGC is already the majority investor of the specialist professional services and technology firm, Davies Group.

Through the deal, Neil White, partner at the American private equity business, is looking to pair the firm’s “industry knowledge” with SRG’s specialist capabilities to help it grow both “organically and through acquisition”.

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