Item 2.01 Completion of Acquisition or Disposition of Assets. As previously disclosed onDecember 17, 2019 ,Baldwin Krystyn Sherman Partners, LLC ("BKS"), a subsidiary ofBRP Group, Inc. ("BRP Group "), entered into an Asset Purchase Agreement (the "Lanier Purchase Agreement") to acquire substantially all of the assets ofLanier Upshaw, Inc. ("Lanier"). In addition, as previously disclosed onDecember 17, 2019 ,BRP Insurance Intermediary Holdings, LLC ("BRP Intermediary"), a subsidiary ofBRP Group , entered into an Asset Purchase Agreement (the "Highland Purchase Agreement" and together with the Lanier Purchase Agreement, the "Purchase Agreements") to acquire substantially all of the assets ofHighland Risk Services LLC ("Highland"). OnJanuary 2, 2020 , BKS and BRP Intermediary (through its subsidiaryBRP Specialty Wholesale, LLC ) (collectively, the "BRP Purchasers") completed the acquisition of substantially all of the assets of Lanier and Highland, respectively, with each acquisition being effective as ofJanuary 1, 2020 . At the closing of the acquisitions the BRP Purchasers paid aggregate consideration of approximately$41.6 million , consisting of approximately$31.0 million of cash, 389,727 shares ofBRP Group's Class A common stock,$0.01 par value per share, and 286,624 membership interests ofBRP Group's subsidiary,Baldwin Risk Partners, LLC ("BRP LLC ") (and the corresponding 286,624 shares ofBRP Group's Class B common stock, par value$0.0001 , issued pursuant to the terms ofBRP LLC's Third Amended and Restated Limited Liability Company Agreement). The securities issued as part of the consideration payable under the Purchase Agreements are subject to contractual transfer restrictions for a period of time. Under the terms of the Purchase Agreements, Lanier and Highland will also have the opportunity to receive in the aggregate up to approximately$13.5 million of additional contingent earnout consideration in cash based upon the achievement of certain post-closing revenue focused performance measures. Item 9.01 Financial Statements and Exhibits. The financial statements that are required to be filed under Item 9.01(a) and the pro forma financial information that is required to be filed under Item 9.01(b) will be filed by an amendment to this Current Report on Form 8-K within 71 calendar days of the date on which this Current Report on Form 8-K is required to be filed.
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