New Mountain Capital to acquire a US commercial insurance division from Carlyle-backed NSM Insurance.

New Mountain Capital, a growth-oriented investment firm, agreed to acquire a US commercial insurance division from Carlyle-backed NSM Insurance, a global specialty insurance provider. Financial terms were not disclosed. "Today, we are excited for this milestone and for New Mountain to help lead the next stage of growth for these well-established specialty insurance brands. We are extremely proud of the unique portfolio of programs we have built over the last 35 years that provide a profitable and diversified position in today's competitive marketplace. New Mountain has an impressive track record and we have the utmost confidence in their expertise, integrity and commitment to drive NSM forward. We want to thank the entire NSM team for their hard work — this transaction is a win for our team members and all stakeholders involved," Geof McKernan, NSM Insurance Group CEO.