Accelerant, a data-driven risk exchange for the specialty insurance market, has agreed to be acquired by private equity firm Thoma Bravo in an all-cash transaction that values the company at more than $4bn.
Under the agreement, Accelerant shareholders will receive $20.25 in cash for each Class A and Class B share they hold. The offer represents a 49% premium to Accelerant’s closing share price on 12 August 2026. If certain insurance regulatory approvals delay completion, shareholders could receive a ticking fee accruing at 6% annually for a specified period.
The transaction has been unanimously backed by Accelerant’s independent Special Committee and Board of Directors. It is expected to close during the first half of 2027, subject to shareholder approval and other required regulatory clearances. Entities affiliated with Accelerant’s largest investor, Altamont Capital Partners, which control around 82% of the company’s voting rights, have agreed to support the deal.
Thoma Bravo has committed equity to finance the acquisition, meaning the transaction is not dependent on securing additional financing. Once completed, Accelerant will leave the New York Stock Exchange and operate as a private company. Altamont and Accelerant’s founders also intend to maintain an equity interest alongside Thoma Bravo, with the final ownership arrangements to be determined before completion.
The acquisition brings a major private equity investor further into a specialty insurance technology business built around data and risk infrastructure. Thoma Bravo said its experience across insurance technology and data businesses will support Accelerant’s next stage of development as the market for managing general agents (MGAs) expands.
Accelerant operates the Accelerant Risk Exchange, which connects specialty insurance underwriters with providers of risk capital. Its platform combines advanced analytics, real-time data and underwriting insights to support risk pricing, capital deployment and specialty insurance programmes.
Accelerant chairman and CEO Jeff Radke said, “Accelerant has been building the preeminent specialty insurance marketplace since our founding in 2018. Returning to private ownership with Thoma Bravo’s technology and software expertise, coupled with its vast financial and strategic resources, will enable us to make investments that further position our unique, data fueled platform to be the rails on which specialty insurance runs.”
Thoma Bravo senior partner A.J. Rohde added, “We have immense admiration for Jeff, his team and the business they’ve built. As the MGA market continues to grow, underwriters are looking for a committed technology-forward partner who can unlock rapid program growth and underwriting innovation. We’ve invested in insurance technology and data businesses for years, and we’re excited to work alongside the entire Accelerant team.”
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