April 17 (Reuters) - AmWINS Group Inc, the largest wholesale insurance broker in the United States by premiums placed, said it reached an agreement with private equity company New Mountain Capital for a $1.3 billion recapitalization.
The deal will end AmWINS' relationship with buyout firm Parthenon Capital Partners LLC, which had bought a majority stake in the company in 2005.
Last month, Reuters had reported that Parthenon and AmWINS management, who jointly own the company, were looking for buyers and expecting a valuation of about $1.5 billion.
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