Press Release
May 13, 2022

Holland & Knight Advises NSM Insurance Group's Management Team in Sale to The Carlyle Group

New York (May 13, 2022) – Holland & Knight is acting as legal adviser to NSM Insurance Group's management team in the company's sale to global investment firm The Carlyle Group. The transaction values NSM at $1.775 billion and is expected to close in the second half of 2022. The deal was announced on May 9.

NSM is a Pennsylvania-based full-service managing general agent (MGA) and program administrator for specialty property and casualty insurance. It has been a division of White Mountains Insurance Group, Ltd., a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM.

Carlyle (NASDAQ: CG) operates 26 offices across five continents and has $325 billion of assets under management.

Holland & Knight Partners Paul Jaskot, John Martini and Gary Schoenbrun led the firm's representation. All three are ranked in Chambers USA and are leading corporate law practitioners. Holland & Knight Associate Meredith Jones provided assistance.

Holland & Knight's corporate practice is ranked as a national first-tier firm in Leveraged Buyouts and Private Equity Law, Corporate Law and M&A Law in the 2022 U.S. News – Best Lawyers "Best Law Firms" guide. The firm is consistently ranked among the Top 25 law firms in the nation advising on U.S. M&A transactions by deal count in Refinitiv and other league tables.

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