pat-ryan-
Pat Ryan, founder, chairman and CEO of Ryan Specialty Group
22 June 2021Insurance

Ryan Specialty reveals solid organic growth and revenues in IPO filing

US-based  Ryan Specialty Group Holdings officially filed for an initial public offering (IPO) of its Class A common stock on the New York Stock Exchange on Monday (June 21).

The company filed an S-1 with the US Securities and Exchange Commission in which it revealed that it grew organic revenue by more than 20 percent in 2020 to over $1 billion, and increased its total revenue by 33 percent.

Upon completion of the proposed IPO, the Patrick Ryan-led group will be the sole managing member of Ryan Specialty Group, and will exclusively operate and control all of its business and affairs.

The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined. Its Class A common stock will be listed on the NYSE under the ticker symbol 'RYAN'.

The company said it intends to use the net proceeds from this offering to purchase outstanding and newly issued non-voting common interest units, purchase preferred units of Holdings LLC held by Onex through the acquisition of the equity of the Preferred Blocker Entity, as well as outstanding LLC Units from certain existing holders of LLC Units.

JP Morgan, Barclays, Goldman Sachs & Co. and Wells Fargo Securities are acting as lead book-running managers, and UBS Investment Bank, William Blair, RBC Capital Markets, BMO Capital Markets, and Keefe, Bruyette & Woods, A Stifel Company, are acting as book-running managers for the proposed offering.

Dowling & Partners Securities, Nomura, Capital One Securities, CIBC Capital Markets, Loop Capital Markets, PNC Capital Markets, Ramirez & Co., and Siebert Williams Shank are acting as co-managers for the proposed offering.

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More on this story

Insurance
22 July 2021   The shares are expected to begin trading on the New York Stock Exchange (NYSE) on July 22.
Insurance
13 July 2021   The initial public offering is expected to generate net proceeds of up to $1.42 billion.
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17 March 2021   It has been quite a career for Pat Ryan, also the founder of Aon.