Goodwin Advises Thoma Bravo on $4 Billion Acquisition of Accelerant
The Private Equity, Public M&A and Technology teams advised Thoma Bravo in its definitive agreement to acquire Accelerant (NYSE: ARX), the data-driven risk exchange platform transforming the specialty insurance marketplace through the Accelerant Risk Exchange, in an all-cash transaction with an enterprise value of more than $4 billion. Under the terms of the agreement, Accelerant Class A and Class B stockholders will receive $20.25 per share in cash.
Upon completion of the transaction, Accelerant will become a privately held company. The transaction, which is currently expected to close in the first half of 2027, is subject to customary closing conditions, including approval by the shareholders of Accelerant, and satisfaction of required regulatory approvals.
Thoma Bravo is the world’s largest software-focused investment firm, with more than $172 billion in assets under management as of March 31, 2026. Partnering with some of the world’s most sophisticated investors, Thoma Bravo’s private equity and private credit platforms reflect a focused investment strategy, supported by disciplined execution, deep sector expertise and leadership continuity. Over the past 20-plus years, Thoma Bravo has acquired or invested in approximately 590 companies, representing more than $320 billion of aggregate value (including control and non-control investments, as well as add-on acquisitions).
Accelerant operates the Accelerant Risk Exchange, a data-driven platform that connects specialty insurance underwriters with risk capital providers through advanced analytics, real-time data, and transparent underwriting insights. The platform supports diversified, low-volatility premium performance and scalable capital deployment across cycles.
The Goodwin team was led by David Johanson, Joshua Zachariah, Matthew Cognetti, James Ding, Nathalie Dabrowski, and Judy Choi, and included Jessica Barbaria, Yifeng Yuan, Kelvin Chan, Megan Roques, Selin Deldag, Chris Li, Keerthi Adusumilli, Steven Clemens, Garrett Gaughan, Andy Barton, Rahat Tariq, Lydia Marik, Jamie Holdoway, Vanessa Gunn, Dulcie Daly, Anna Humphrey, Al Solecki, Scott Bailer, Jacob Hoback, Alex Fisher, Akshay Chauhan, Jia Jia Huang, Thomas Serino, Gretchen Scott, James Taylor, Sarah Jordan, Anuj Ghai, Samuel Honnywill, Andrew M Lacy, Elliot Silver, Simone Waterbury, Jim Matarese, Omer Tene, Karl Dragosz, Curtis McCluskey, Joseph Ndep, Jacob R. Osborn, Ai Tajima, Nick Ognibene, and Sofia Polishchuk.
For more details, read the press release.