Thoma Bravo – Accelerant Holdings

WA-55041

Thoma Bravo L.P. (**Thoma Bravo**), is one of the largest software-focused investors in the world, with approximately USD 170 billion in assets under management as of June 30, 2026. Through its private equity, growth equity and credit strategies, the firm invests in companies operating in the software and technology sectors. Over the past 20+ years, the firm has acquired or invested in approximately 600 companies representing approximately USD 325 billion in enterprise value (including control and non-control investments). Accelerant Holdings (**Accelerant**) operates a data-driven risk exchange that connects specialty insurance underwriters, including Managing General Agents with insurers, reinsurers and other providers of risk capital through an AI-driven technology and data platform. Accelerant is listed on the New York Stock Exchange (NYSE: ARX). Altamont Capital Partners (**Altamont**) is a private equity firm focused on transforming and scaling lower-middle-market companies across the Financial Services, Industrials and Business Services sectors. Altamont has invested in over 50 companies and currently manages over $4 billion of capital. Altamont is Accelerant’s largest investor. Funds managed by Thoma Bravo, acting through affiliated acquisition vehicles, propose to acquire up to 100% of the capital in Accelerant (the **Acquisition**). The Acquisition involves the take-private of Accelerant. Altamont Capital Partners and Accelerant Holdings’ founders intend to retain a degree of equity ownership alongside Thoma Bravo, with the terms to be finalised prior to closing.