Hagerty Acquires Broad Arrow Group.

• Date: 10 September 2022
• Published date: 10 September 2022

* Hagerty (HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, has announced that it has entered into a definitive agreement to acquire all outstanding shares of Broad Arrow Group, which specializes in the transactional segments of the collector car market.

Earlier this year, Hagerty acquired approximately 40 percent equity ownership in Broad Arrow Group (Broad Arrow) as a centerpiece of its automotive Marketplace strategy, designed to provide consumers new trust-based platforms for buying, selling and financing collectible cars.

Hagerty is now acquiring the remaining 60 percent of Broad Arrow for $64.8 million in an all-stock transaction, with an expected closing date of August 16, 2022.

"In addition to being trusted experts in their field, the Broad Arrow...