Transaction values IMA at $4 billion, fuels growth, preserves majority employee ownershipDenver, May 13, 2026 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=5e4KEITaM9I3iOZVcaTd8AOUCCs_YDt9EVXmu3MjyYR7MZ9YEGMzpKp0EaD-YkAypXwz3_a6K8mWLNqO9Nn-h1k6hmob9hNiW0RJMTYpyok=" rel="nofollow" target="_blank" title="IMA Financial Group, Inc.,">IMA Financial Group, Inc.,</a> a North American insurance brokerage firm specializing in risk management, employee benefits and investment advisory services, today announced the completion of an equity recapitalization transaction. Oak Hill Capital and New Mountain Capital are each taking minority positions, with additional participation from HarbourVest Partners and a select group of prominent institutional co-investors. IMA employees will continue to own a majority of the Company, with 100% of associates participating as shareholders. SkyKnight Capital and The Stephens Group will exit in connection with the transaction. New Mountain will exit its existing position and reinvest alongside the broader investor group. The recapitalization fuels IMA's already-strong growth, supporting investments in technology, talent and strategic partnerships while preserving the firm's independence and client- and employee-first culture. "We accomplished every goal we set out to achieve: preserving majority employee ownership, maintaining our independence and strengthening our ability to build on what makes us successful — our talent, our vision and our people-first culture," said IMA Financial Group Chairman and CEO Rob Cohen. "With the support of our investors, we will continue scaling our platform, expanding our expertise and investing in the people and partnerships that have fueled IMA's growth." Since 2020, IMA has increased revenue by nearly 400 percent, driven by both strategic partnerships and industry-leading organic growth. Its associate base expanded from 700 in regional offices to more than 3,000 nationally. "IMA has grown exponentially since its first recapitalization, but what drove investor interest is the success of its business model," Oak Hill Managing Partner Steve Puccinelli and Partner Nico Theofanidis said in a joint statement. "We believe IMA is a highly differentiated platform in the insurance brokerage space that has demonstrated an ability to scale its culture to the benefit of clients and the firm." "As an investor since 2020, we have seen firsthand what makes IMA different. The company is positioned to further scale its platform while preserving its governance and structure, and we are pleased to reinvest as the company enters its next chapter," New Mountain Capital Managing Directors Sean Donovan and Robert Mulcare said in a joint statement. Ardea Partners LP served as lead financial advisor to IMA. Houlihan Lokey and Reagan Consulting also provided financial advice. Sidley Austin LLP served as legal counsel to IMA. William Blair &amp; Company, L.L.C. served as financial advisor to Oak Hill Capital. Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP served as legal counsel to Oak Hill Capital. Jefferies LLC served as financial advisor to New Mountain Capital. Ropes &amp; Gray LLP served as legal counsel to New Mountain Capital. About IMA Financial Group <a href="https://www.globenewswire.com/Tracker?data=5e4KEITaM9I3iOZVcaTd8C7uJtwKmPXzjfo5IzfSST9Hxmb0SLvj6FT-j4fhwuGr-XPvjzlOoqrbr4BZNZlcNYk6kfKGQrXF7dYwaFsJkUo=" rel="nofollow" target="_blank" title="IMA Financial Group">IMA Financial Group</a> is an independent broker, defining the future of insurance through comprehensive and consultative risk and investment advisory services. A majority employee-owned and managed company, its 3,000-plus associates in offices across the country are empowered by a shared mission to manage risk, protect assets and make a difference. About Oak Hill Capital Oak Hill Capital is a thematic, middle-market private equity firm focused primarily on investing in resilient, defensive growth-oriented services businesses in North America. The firm takes a systematic approach to identifying and building enduring franchises aligned with high conviction themes in (i) digital infrastructure; (ii) financial services; and (iii) essential services. Headquartered in New York City, with offices in Menlo Park and Stamford, over its 40-year history, Oak Hill and its predecessors have invested in over 115 companies and has raised over $25 billion of initial capital commitments and co-investments since inception. For more information, please visit <a href="https://www.globenewswire.com/Tracker?data=XK9sJbo12vTnCPGKJXHS7HOX3b0rkM2H4yHi6bYNhHiBxkfTKmtstigZwCz2_fh62zj_WlmtQKwXMabLBRV6x89gSmrW6kMrrjyzeDpt1eM=" rel="nofollow" target="_blank" title="www.oakhill.com">www.oakhill.com</a>. About New Mountain Capital New Mountain Capital is a New York-based investment firm that emphasizes business-building and growth rather than excessive risk as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with nearly $60 billion in assets under management. New Mountain seeks out what it believes to be the highest-quality growth leaders in carefully selected industry sectors, then works intensively with management to build the value of these companies. For more information, visit <a href="https://www.globenewswire.com/Tracker?data=Oqm5U7_NMuoIWu0fnHq9ncWVqjB-SMSkBYoGUtyUYyckVRvFqt-EZk_DelcBJTbPaBoww4wIMFV9tGVVT9Wz5sOFlVeRu2KpCwzWEd9UhF-7Z2SoDGjHJvkThePRNGPL" rel="nofollow" target="_blank" title="www.newmountaincapital.com">www.newmountaincapital.com</a>. About HarbourVest Partners HarbourVest Partners is an independent, global private markets firm with over 43 years of experience and $161 billion of assets under management as of December 31, 2025. HarbourVest's interwoven platform provides clients with access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure and private credit. HarbourVest's strengths extend across strategies, enabled by its team of more than 1,200 employees, including more than 225 investment professionals across Asia Pacific, Europe, the Middle East and the Americas.   <pre>CONTACT: Kakie Atwell
IMA Financial Group, Inc.
kakie.atwell@imacorp.com

Jessica Poulalier
Center Reach Communications
7209893530
jessica@centerreachcommunication.com
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IMA Financial Group Completes Equity Recapitalization Led by Oak Hill Capital, New Mountain Capital and HarbourVest Partners

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