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Stone Point Capital to acquire Ever.Ag risk management business
The all-cash deal values Ever.Ag’s risk management unit at an implied $15.5 billion enterprise value, with closing expected in Q2 2024.
Ever.Ag said it has completed the sale of its risk management business to funds managed by Stone Point Capital, and the unit will operate as an independent company under its current management team while transitioning to a new brand, according to Coverager.
The risk management business provides solutions to the global agricultural industry, using proprietary technology and an insights platform to help producers, processors, cooperatives, manufacturers, and other businesses manage commodity risk through insurance, advisory, and derivatives brokerage services.
Coverager reports that Stone Point will bring experience, resources, and a long-term perspective to help the business accelerate its strategy and continue delivering risk management solutions and market insights.
The outlet adds that the all-cash transaction values the unit at an implied enterprise value of $15.5 billion, and the parties expect to complete the transaction during the second quarter of 2024.