White Mountains Insurance Group to Acquire Majority Stake in Distinguished Programs

Aquiline Capital Partners Acquires Majority Stake in Distinguished Programs

April 13, 2022

Insurance

Aquiline Capital Partners has acquired a majority stake in Distinguished Programs, a national insurance program manager. Founder Andy Potash will retain a significant minority stake and transition to an active board role while a new executive team joins to drive product, technology and acquisition-led growth.

White Mountains Acquires Majority Interest in Ark Insurance Holdings

October 1, 2020

Insurance

White Mountains Insurance Group agreed to invest $605 million of equity (at a $300 million pre-money valuation) and purchase $41 million of shares from existing owners to acquire a majority interest in Ark Insurance Holdings, the parent of Ark Syndicate Management Ltd. The capital raise will give White Mountains ~72% ownership at closing (63% fully diluted), with a commitment to contribute up to an additional $200 million in 2021 to substantially expand Ark's Lloyd's capacity, convert its Bermuda reinsurance entity, and hire underwriting talent.

White Mountains Acquires Majority Stake in Bamboo Ide8 Insurance Services

October 20, 2023

Financial Services

White Mountains Insurance Group agreed to acquire approximately a 70% majority stake in Bamboo Ide8 Insurance Services, LLC, investing about $285 million including primary capital to support growth. Bamboo, a tech- and data-enabled MGA serving over 100,000 California homeowners, will remain led by founder John Chu and management, and plans to expand beyond California with White Mountains as a capital partner.

The Carlyle Group to Acquire NSM Insurance Group from White Mountains

May 9, 2022

Insurance

White Mountains Insurance Group has signed a definitive agreement to sell NSM Insurance Group to investment funds affiliated with The Carlyle Group for $1.775 billion. Carlyle will partner with NSM's founder-led management team to pursue operational improvements, accretive M&A and strategic investments in technology and data & analytics; the deal is expected to close in the second half of 2022, subject to regulatory approvals.

White Mountains Partners Acquires Majority Interest in BaseSix Systems LLC

April 2, 2026

Industrial Services

White Mountains Partners, an operating company of White Mountains Insurance Group, announced it has acquired a majority interest in BaseSix Systems LLC, a provider of building systems integration and aftermarket services. The deal is intended to accelerate BaseSix’s growth, including expansion into new markets and pursuing additional strategic acquisitions.

American Exchange Group Acquires White Mountain Footwear

January 17, 2023

Consumer Products

American Exchange Group has acquired White Mountain Footwear, a 40-year-old women’s footwear brand, to integrate its sourcing, manufacturing and management capabilities and expand distribution across the buyer’s existing retail channels. The acquisition will allow American Exchange Group to leverage synergies with its Aerosoles business, broaden product categories (including the Cliffs sister brand) and increase White Mountain’s reach into mass retailers and e-commerce.