- 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.
For further details see:
Hagerty to acquire Broad Arrow Group