Ryan Specialty secures $175m PE investment to fund growth

Ryan Specialty Group (RSG) has secured a $175 million investment from Toronto-based private equity firm Onex Corporation. The company has framed the deal as a long-term strategic relationship that will enable further growth.

Onex's investment will comprised of $150 million of preferred equity and $25 million of common equity. RSG said the investment will provide capital to continue the company's growth strategy and M&A activity.

Ryan Specialty Group is an international specialty insurance organisation that includes a wholesale brokerage firm, RT Specialty, and an underwriting management organization, RSG Underwriting Managers, which is comprised of 22 individual underwriting companies.

The company said RSG has achieved "extraordinary growth" in its brief history. RSG was founded in 2010.

Pat Ryan, founder, chairman and CEO of RSG, said: “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, said: “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.”

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