NEW YORK, NY – Stonybrook Capital & Risk Management (“Stonybrook”) is pleased to announce that Iowa-based United Fire Group, Inc (the “Company” or “UFG”) (NASDAQ: UFCS), a property and casualty insurance carrier has successfully completed a placement of $30 million aggregate principal senior unsecured 9.0% Series B notes due May 31, 2039, (the “notes”) in a private offering (the “Offering”) with Ares Alternative Credit funds. Proceeds from the offering will be used to support anticipated growth and for general corporate purposes.
Stonybrook Capital, LLC served as the Company’s Exclusive Financial Advisor in connection with the debt issuance.
Eric Martin, CFO, UFG, commented:
“We are pleased with the successful execution of this capital raise, which aligns with the company’s long-term strategy for sustainable and profitable growth. We value our continued partnership with Stonybrook Capital.”
Joseph Scheerer, CEO, Stonybrook,
“The value of our firm is built on relationships like UFG. We are beyond proud to extend our services to such a high-quality company.”
Adam Clay, Partner, Stonybrook,
“We’re proud to have partnered with the exceptional team at UFG on another successful transaction. At our firm, we prioritize relationships with top-tier companies like UFG, and we’re excited to support their continued growth and long-term success”
Please see a case study of the transaction here
About Stonybrook Capital & Risk Management
Stonybrook Capital & Risk Management (“Stonybrook”) is a global advisory boutique, headquartered in New York City, providing clients with capital raising, M&A, reinsurance broking and investment advisory solutions. Stonybrook focuses exclusively on the insurance and reinsurance industry. Founded in 2012, Stonybrook was ranked #2 behind Goldman Sachs in the S&P advisory league tables for 2022.
Corporate contact:
Kendel Bell
[email protected]
Securities transactions are executed through Weild & Co., member FINRA | SIPC