Thoma Bravo to Acquire Accelerant in $4 Billion All-Cash Take-Private

Accelerant Holdings (NYSE: ARX) agreed to be acquired by private-equity firm Thoma Bravo in an all-cash transaction valued at more than $4 billion. Each Class A and Class B share will be paid $20.25 in cash, a 49 % premium to the closing price on August 12, 2026. The offer triggered a 44 % pre-market jump in Accelerant’s share price. The deal is slated to close in the first half of 2027, pending shareholder approval and required insurance-regulatory clearances. If closing is delayed because of those approvals, shareholders will receive a ticking fee accruing at 6 % per annum.

Accelerant heads back to private ownership with Thoma Bravo acquisition

Accelerant, founded in 2018, operates the Accelerant Risk Exchange, a data-driven platform that links specialty insurance underwriters with institutional risk capital. The company went public at $21 per share, later falling to $9.36 in February 2026 before stabilizing near $13.61. The volatility prompted the board to explore a return to private ownership.

Thoma Bravo To Acquire Accelerant For More Than $4 Billion

Accelerant’s H1 2026 results showed strong operational momentum:

Accelerant heads back to private ownership with Thoma Bravo acquisition

• Exchange Written Premium rose 23 % YoY to $1.32 billion.

Accelerant Is Going Private in $4 Billion Thoma Bravo Deal

• Adjusted earnings were $0.32 per share, beating the analyst estimate of $0.16.

Accelerant Is Going Private in $4 Billion Thoma Bravo Deal

• Revenue reached $356.9 million, above the consensus estimate of $279.23 million.

Accelerant Is Going Private in $4 Billion Thoma Bravo Deal

• Net income climbed to $80 million from $13.1 million a year earlier.

Accelerant Is Going Private in $4 Billion Thoma Bravo Deal

• Adjusted EBITDA increased to $93.1 million, yielding a margin of 30.6 %.

Accelerant Is Going Private in $4 Billion Thoma Bravo Deal

The company also repurchased 4.73 million Class A shares for $66 million during the quarter.

Accelerant Is Going Private in $4 Billion Thoma Bravo Deal

The Special Committee, composed solely of independent directors, unanimously recommended the transaction, and the full board approved it without dissent. Altamont Capital Partners, Accelerant’s largest investor, holds roughly 82 % of voting rights and has pledged to vote in favor while retaining equity alongside the founders after the deal closes.

Accelerant heads back to private ownership with Thoma Bravo acquisition

Morgan Stanley, Houlihan Lokey, BMO Capital Markets, Wells Fargo, Paul Hastings, Sidley Austin, Maples Group, Goodwin Procter, Skadden, Walkers, and Ropes & Gray served as financial and legal advisors to the parties.

Thoma Bravo To Acquire Accelerant For More Than $4 Billion

• “ “Accelerant has built something rare in specialty insurance,” said Matt LoSardo, a principal at Thoma Bravo.” — Principal, Thoma Bravo

Thoma Bravo to Take Accelerant Private in $4 Billion Deal

The acquisition will close in the first half of 2027 once Accelerant shareholders approve the deal and the required insurance-regulatory approvals are obtained. Upon completion, Accelerant’s common shares will be delisted from the New York Stock Exchange, and the company will operate as a privately held entity under Thoma Bravo’s ownership, with Altamont Capital Partners and the founders retaining equity stakes.

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