IMA Financial Group Completes Equity Recapitalization

Insurance brokerage IMA Financial Group, Inc. announced the completion of an equity recapitalization transaction.

Oak Hill Capital and New Mountain Capital are each taking minority positions, with additional participation from HarbourVest Partners and a select group of prominent institutional co-investors.

IMA employees will continue to own a majority of the company, with 100% of associates participating as shareholders. SkyKnight Capital and The Stephens Group will exit in connection with the transaction. New Mountain will exit its existing position and reinvest alongside the broader investor group.

The transaction values IMA at $4 billion.

The recapitalization supports IMA’s growth, investments in technology, talent, and strategic partnerships.

“With the support of our investors, we will continue scaling our platform, expanding our expertise and investing in the people and partnerships that have fueled IMA’s growth,” said CEO Rob Cohen.

Since 2020, IMA has increased revenue by nearly 400%, driven by both strategic partnerships and industry-leading organic growth. Its associate base expanded from 700 in regional offices to more than 3,000 nationally.

SOURCE: IMA

Topics Mergers & Acquisitions