Mergers and Acquisitions – Hagerty Goes Public

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In our September issue we reported its acquisition of the Amelia Island Concours, and last month classic car insurance and event brand Hagerty, announced it is going public.  With more than 2 million vehicles insured globally, Hagerty has entered into a definitive business combination agreement with Aldel Financial Inc., a special purpose acquisition company.  Upon the closing of the transaction, Aldel will be renamed Hagerty Inc. and become publicly traded, with its common stock expected to be listed on the New York Stock Exchange under the ticker HGTY.   The company’s portfolio includes the Hagerty Drivers Club, more than 2,500 automotive events annually (including the recently acquired Amelia Island Concours d’Elegance), an expanding automotive media content platform, and Hagerty’s proprietary valuation tools. 

McKeel Hagerty CEO of the company started by his parents, originally to insure classic wooden boats, has been a lifelong car enthusiast

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