DOXA Insurance coverage Holdings is ready to hitch the portfolio of Goldman Sachs Asset Administration following a definitive acquisition settlement.
This transfer by Goldman Sachs represents a strategic funding in DOXA and signifies a significant leap in direction of additional growth for the underwriting firm. The influx of capital from Goldman Sachs will bolster DOXA’s technique for buying complementary companies and gasoline its natural progress endeavors. Regardless of the change in possession, DOXA’s administration and worker shareholders will preserve a considerable stake within the firm.
Established in 2016, DOXA’s operations embody specialty managing normal agent (MGA) providers, wholesale, affinity packages, and different threat options, with over $600 million in written premiums. DOXA’s options are tailor-made for complicated protection wants, serving a big selection of specialised industries throughout the US.
The completion of this transaction is slated for the ultimate quarter of 2023, pending the satisfaction of ordinary closing conditions, and acquiring essential regulatory consents. Waller Helms Advisors has acted because the unique monetary advisor to DOXA, with Barrett McNagny LLP and Choate Corridor & Stewart LLP offering authorized counsel for the transaction. Piper Sandler & Co. and Goldman Sachs & Co. LLC had been the monetary advisors for Goldman Sachs, with Sullivan & Cromwell LLP dealing with the authorized features of the deal.
“The funding from Goldman Sachs is a testomony to the robust enterprise and model DOXA has created since inception. We’re excited to work with Anthony and his workforce to speed up DOXA’s strategic growth and drive DOXA in its subsequent chapter of evolution,” mentioned Matt Sackett, DOXA founder and CEO.
“We’re excited to companion with Matt and all the DOXA workforce and have been impressed with the numerous and differentiated capabilities they’ve assembled since launching in 2016,” mentioned Anthony Arnold, personal fairness managing director at Goldman Sachs. “We look ahead to bringing our assets to DOXA’s present platform and to assist them capitalize on the numerous macro traits which might be driving the broader MGA sector.”
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