DOXA Insurance Holdings, an underwriting and distribution company based in North America, has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management.
According to the announcement, the transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions and regulatory approvals.
Waller Helms Advisors served as exclusive financial advisor and Barrett McNagny LLP and Choate Hall & Stewart LLP served as transaction counsel to DOXA in connection with this transaction.
While Piper Sandler & Co. and Goldman Sachs & Co. LLC served as financial advisor and Sullivan & Cromwell LLP served as transaction counsel to Goldman Sachs in connection with this transaction.
This investment is set to help fuel DOXA’s ongoing acquisition strategy in addition to its organic growth initiatives.
After the transition is completed, both DOXA’s management team and it’s employee shareholders will remain significant investors alongside Goldman Sachs.
Established in 2016, DOXA’s portfolio spans across specialty MGA, wholesale, affinity, and alternative risk segments generating over $600 million in written premium.
Matt Sackett, CEO and founder of DOXA Insurance Holdings, commented: “The investment from Goldman Sachs is a testament to the strong business and brand DOXA has created since inception. We are excited to work with Anthony and his team to accelerate DOXA’s strategic expansion and drive DOXA in its next chapter of evolution.”
Anthony Arnold, Managing Director in Private Equity at Goldman Sachs, added: “We are excited to partner with Matt and the entire DOXA team and have been impressed with the significant and differentiated capabilities they have assembled since launching in 2016. We look forward to bringing our resources to DOXA’s existing platform and to help them capitalize on the significant macro trends that are driving the broader MGA sector.”
