Ryan Specialty Group Announces Investment by Onex
June 4, 2018, CHICAGO, IL – Ryan Specialty Group, LLC (RSG), is pleased to announce that it has entered into a long-term strategic relationship with Onex Corporation (Onex) [TSX:ONEX]. Onex’ investment is comprised of $150 million of preferred equity and $25 million of common equity. The purpose of this new investment is to provide capital to continue RSG’s successful growth strategy and M&A activity.
Founded in 2010, Ryan Specialty Group is a leading international specialty insurance organization that includes a wholesale brokerage firm, RT Specialty, and an underwriting management organization, RSG Underwriting Managers, which is comprised of 22 individual underwriting companies. In its brief history, RSG has achieved extraordinary growth by establishing itself as a preferred partner of clients and an ideal platform for brokers and underwriters.
Pat Ryan, Founder, Chairman and CEO of RSG, commented, “We are pleased to enter into this relationship with Onex. They align with our culture, believe in our team, and support our strategic goals. Having known and respected Bobby and Onex for roughly 15 years, I believe that they are an ideal partner for our company.”
Bobby Le Blanc, Senior Managing Director of Onex, remarked, “Pat is building an outstanding organization comprised of top talent from around the insurance industry and has established clear and ambitious, yet achievable goals. We are delighted to invest in this excellent company.”
Terms of the agreement were not released.
For more information, please contact:
Alice Phillips Topping
Chief Marketing and Communications Officer