Enstar Group announced the closing of its $5.1 bn acquisition by investment vehicles managed by affiliates of Sixth Street.
The transaction was completed at $338 in cash per ordinary share, reflecting a total equity value of $5.1 bn. Liberty Strategic Capital, J.C. Flowers & Co, and other institutional investors also participated.
Enstar stated it notified the Nasdaq Stock Market of its intention to voluntarily withdraw its depositary shares from listing. The company expects to file a delisting notification with the U.S. Securities and Exchange Commission around July 14 to delist and deregister the depositary shares.
Chief Executive Officer Dominic Silvester described the closing as a significant step for Enstar as it transitions into a private company.
Together with Sixth Street, we will build on our position as a leading global (re)insurance group, delivering innovative solutions to our partners and maintaining our competitive advantage.
Dominic Silvester, CEO Enstar
Michael Muscolino, co-founder and partner at Sixth Street, called Enstar an attractive company with a strong business model and an experienced management team. He said Sixth Street looks forward to working with Silvester and the Enstar team to help execute the company’s existing strategy.
Enstar is a compelling company with a robust business model and an exceptional management team. We are thrilled to reach this milestone and look forward to partnering with Dominic and the rest of the Enstar team to help them execute on their existing strategy.
Michael Muscolino, co-founder and partner, Sixth Street
Previously, Enstar secured shareholder approval for the proposed acquisition by Sixth Street, with participation from Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors, as announced in November 2024.
Upon completion of the transaction, Enstar’s common stock is no longer publicly listed, and the company operates as a privately held entity.
