Thoma Bravo has agreed to take Accelerant private in an all‑cash transaction valuing the specialty insurance risk‑exchange at more than $4 bn. The buyout firm will pay $20.25 per share, a price just below Accelerant’s float of $21 when it listed on the New York Stock Exchange in July 2025. The deal brings the company back underground barely a year after its IPO, capitalising on the share price’s drift below the listing level and the stock’s lack of favour.

Accelerant’s largest investor, Altamont Capital Partners, controls roughly 82 % of the voting rights through entities tied to the firm. Those shareholders have agreed to support the transaction, effectively guaranteeing the shareholder vote. The premium paid reflects the fact that the shares had fallen well below the IPO price, allowing Thoma Bravo to strike while the market was out of favour.

The acquisition signals Thoma Bravo’s confidence in Accelerant’s software‑focused platform and its potential for growth in the niche insurance‑risk space. The deal will be all‑cash, consolidating Accelerant’s position and removing the volatility of public markets.

The transaction is expected to close in the second quarter of 2026, pending regulatory approvals and customary closing conditions.