The specialty insurance software market is losing one of its few public names. Accelerant Holdings has agreed to sell itself to private equity firm Thoma Bravo for $4.4B.
The transaction values Accelerant at $20.25 per share, a 49% premium to its last unaffected stock price. Specialty insurance covers high-value items that standard policies skip, from paintings to airplanes, and increasingly data centers.
Accelerant’s cloud platform connects managing general agents with insurers, letting MGAs underwrite policies through five-year capital agreements. The company says 314 MGAs and insurers use the platform, which processes 1.2 million policy records a month.
Results landed alongside the deal. Second-quarter revenue climbed 62.9% from a year earlier to $356.9M, roughly 30% past what analysts had penciled in, and adjusted profit of 32 cents per share cleared estimates too.
“Returning to private ownership with Thoma Bravo’s technology and software expertise will enable us to make investments that further position our data fueled platform to be the rails on which specialty insurance runs,” said CEO Jeff Radke. The deal is expected to close in the first half of 2027, with Thoma Bravo paying a fee equal to 6% of the purchase price per year if regulatory approval drags.
