Hagerty, Inc. (NYSE:HGTY) entered into a definitive agreement to acquire remaining 60.26% of Broad Arrow Group, Inc. for $64.8 million on August 9, 2022. Broad Arrow founders and industry veterans Kenneth Ahn, Alain Squindo, Ian Kelleher, Donnie Gould, Barney Ruprecht, Alexander Weaver, David Swig, Karsten Le Blanc, Ramsey Potts, Madeline Baker and Mike Mortorano, along with their colleagues, will become a part of the Hagerty team as part of the deal, and Kenneth Ahn will continue to lead the team as President of Hagerty Marketplace. The deal is expected to close on August 16, 2022.

Matthew M. Holman of Squire Patton Boggs (US) LLP acted as legal advisor to Hagerty. Rob Lynn, Geoff Willard and Eric Weberman of Goodwin Procter LLP acted as legal advisor to Broad Arrow. Sean M. Keyvan & Scott Pollock of Sidley Austin LLP acted as legal advisors to Hagerty, Inc.