White Mountains Insurance Group (NYSE:WTM) announced on Friday that it has finalized an agreement to sell a controlling stake in Bamboo to investment funds advised by CVC Capital Partners.
Bamboo, a tech-driven insurance distribution platform, offers homeowners’ insurance and related products to the residential property market in California and Texas.
The deal is expected to close by the end of the fourth quarter of 2025.
Evercore Group L.L.C. served as the primary financial advisor for White Mountains, with Piper Sandler & Co. also providing advisory services. Legal counsel for White Mountains and Bamboo was provided by Cravath, Swaine & Moore LLP.
CVC Capital Partners, through its private equity operations, manages investments in over 150 companies globally, generating total annual revenues exceeding €165 billion and employing nearly 600,000 people.
White Mountains Insurance Group stock price
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