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ProSight to be acquired by investment management, equity firms

January 19, 2021


Investment management firm TowerBrook Capital Partners and private equity firm Further Global Capital Management have announced the signing of a definitive merger agreement, under which affiliates of TowerBrook and Further Global will acquire all outstanding shares of common stock of the specialty insurance company ProSight Global. The all-cash transaction is valued at about $586 million.

Under the terms of the agreement, ProSight stockholders will receive $12.85 per share of common stock, which represents a 42% premium to the closing share price as of September 23, the last trading day prior to news reports of a possible acquisition. TowerBrook will acquire a majority stake in ProSight, while Further Global will serve as a key minority co-investor. The deal is expected to close in the third quarter.

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