BUYER POOL ANALYSIS
Selling a insurance agency to Private Equity / PE-Backed Roll-Up buyers
Private equity firms and PE-backed platform consolidators acquiring for roll-up, add-on, or platform plays. Pricing tends to lead the market for fee-viable scale, with multi-bidder competitive processes above the EBITDA floor.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 17.6x across 2 disclosed deals (P25: —x, P75: —x). Median EV/Revenue 4.42x across 13 deals. Median deal value: $1000M.
- How many disclosed transactions?
- 13 deals total (13 from 2018+), filtered to Private Equity / PE-Backed Roll-Up acquirers of insurance agency businesses.
- Most active buyers
- KKR (2) · Bain Capital (led $2.1B funding round) (1) · Leonard Green & Partners / Hellman & Friedman (minority investment) (1) · GI Partners / Summit Partners / Morgan Stanley (1) · Stone Point Capital / Clayton, Dubilier & Rice / Mubadala (1) · Stone Point Capital (1)
Recent disclosed deals
Private Equity / PE-Backed Roll-Up acquisitions of insurance agency businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2025 | Acrisure (Capital Raise) | Bain Capital (led $2.1B funding round) | $2100.0M | — | 6.67x |
| 2025 | Hub International (Minority Investment) | Leonard Green & Partners / Hellman & Friedman (minority investment) | $1600.0M | — | 6.04x |
| 2024 | Patriot Growth Insurance Services (Capital Raise) | GI Partners / Summit Partners / Morgan Stanley | $500.0M | — | 0.90x |
| 2024 | Truist Insurance Holdings (TIH) | Stone Point Capital / Clayton, Dubilier & Rice / Mubadala | $15500.0M | 18.0x | 4.50x |
| 2024 | USI Insurance Services (Additional Investment) | KKR | $1000.0M | — | 0.33x |
| 2023 | Stone Point Capital stake in Truist Insurance Holdings | Stone Point Capital | $1950.0M | 17.2x | 4.42x |
What this buyer pool prices for
Private equity acquirers price for scale and roll-up arbitrage. They pay up for businesses that fit a platform thesis — recurring revenue mix above 30%, technician/professional depth, clean financials, and a management layer that survives integration. The same insurance agency can command 1.5x to 2x the multiple of an individual-buyer transaction simply because the PE buyer is acquiring a platform piece, not an owner-operated shop.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to insurance agency businesses acquired by private equity / pe-backed roll-up buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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