Ambac Financial Group Acquires 60% Stake in Beat Capital Partners for $282M
June 6, 2024
Ambac Financial Group has agreed to acquire a 60% controlling interest in London-based Beat Capital Partners for approximately $282 million, with up to $40 million payable in Ambac stock and the remainder in cash. Bain Capital and Beat's management will each retain about 20% ownership; the deal strengthens Ambac's specialty property & casualty underwriting and MGA incubation capabilities and is expected to close in Q3 2024 subject to regulatory approvals.
- Buyers
- Ambac Financial Group, Inc.
- Targets
- Beat Capital Partners Limited
- Sellers
- Bain Capital, Beat's management team
- Industry
- Insurance
- Location
- England, United Kingdom
- Transaction Type
- Buyout
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