Accelerant Go-Shop Ends With No Rival Bids
The specialty-insurance platform's 40-day shop produced no alternative offers as the Thoma Bravo take-private remains slated for the first half of 2027.
Accelerant Holdings (ARX), the data-driven risk exchange platform, said its 40-day “go-shop” window closed at one minute before midnight Eastern time on September 22, 2026, with no alternative acquisition proposals from any third party.
The go-shop was built into the definitive merger agreement dated August 13, 2026, under which affiliates of Thoma Bravo will buy the company in an all-cash transaction with an enterprise value of more than $4 billion. During the period, Accelerant, with financial advisors and other representatives, was permitted to solicit and negotiate alternative bids from certain potentially interested third parties.
The absence of competing offers leaves the previously announced terms intact. Class A and Class B stockholders are to receive $20.25 a share in cash, a 49% premium to Accelerant’s closing share price on August 12, 2026. Upon completion, Accelerant will become a private company and its common shares will no longer be listed or traded on the New York Stock Exchange.
The transaction is still expected to close in the first half of 2027, subject to customary closing conditions, including approval by Accelerant shareholders and receipt of required regulatory approvals. Cherry Tree BidCo, a Cayman Islands exempted company, and Cherry Tree Merger Sub, a wholly owned subsidiary of Parent, are the Thoma Bravo affiliates named in the merger agreement; both are affiliates of Thoma Bravo Discover Fund V, L.P. Merger Sub will merge with and into Accelerant, with Accelerant surviving as a wholly owned subsidiary of Parent.
Jeff Radke, chairman and CEO of Accelerant, said the company has been building the preeminent specialty insurance marketplace since its founding in 2018. He said returning to private ownership with Thoma Bravo’s technology and software expertise, coupled with its financial and strategic resources, will enable investments that further position the data-fueled platform to be the rails on which specialty insurance runs.
Karen Meriwether, chair of the special committee, said the committee believes the transaction recognizes the platform and ecosystem the Accelerant team has built and provides immediate value to shareholders at a substantial premium. A.J. Rohde, a senior partner at Thoma Bravo, said underwriters are looking for a committed technology-forward partner as the MGA market continues to grow, and that the firm has invested in insurance technology and data businesses for years.
The Accelerant Risk Exchange is a data-fueled platform for managing general agents and risk capital, using advanced analytics, real-time profitability feedback, and AI-powered underwriting tools to help MGAs scale low-volatility SME risks. The company intends to file a proxy statement for a special meeting of shareholders to approve the merger, and the company and certain participants intend to file a Schedule 13E-3 if required.