IAP Acted As Exclusive Financial Advisor And Provided A Fairness Opinion To Maiden Holdings, Ltd. On Its Combination With Kestrel Group LLC
On December 30, 2024, Maiden Holdings, Ltd. (“Maiden”), a Bermuda-based leader specializing in legacy services and finality solutions for the insurance and financial services industries, announced the combination with Kestrel Group LLC (“Kestrel”), a Dallas and Austin, TX, based strategic entity created to service program managers, MGAs, reinsurers and reinsurance brokers.
The transaction values Kestrel at up to $167.5m, consisting of upfront cash of $40m, 55m common shares of the combined company valued at $82.5m and an earnout of up to $45m payable in common shares of the combined company. At the closing of the transaction, the combined company will be rebranded as Kestrel Group and expects that its common shares will be listed on the Nasdaq. The combined company will be led by Luke Ledbetter (CEO), Terry Ledbetter (Executive Chairman), and Pat Haveron (President & CFO).
Insurance Advisory Partners (“IAP”) acted as exclusive financial advisor to Maiden in connection with this transaction.
For more information regarding this transaction, please see the case study attached and the following press release: https://maidenholdingsltd.gcs-web.com/node/14246/pdf