HGTY - Hagerty to acquire Broad Arrow Group

• Hagerty ( NYSE: HGTY ) to acquire shares of Broad Arrow Group, which specializes in the transactional segments of the collector car market.
• Earlier this year, company acquired ~40% equity ownership in Broad Arrow Group.
• Company is now acquiring the remaining 60% of Broad Arrow for $64.8M in an all-stock transaction, with an expected closing date of August 16, 2022.
• "After working together for a few months, we saw the compelling value proposition for the two organizations to fully integrate. We look forward to serving the collectible car community in the years to come as a part of Hagerty's comprehensive ecosystem of products and services." said Kenneth Ahn, CEO of Broad Arrow Group.

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