August 5, 2009

The Beekman Group Announces Additional Investment in Ironshore to Support Growth

The Beekman Group today announced its participation in a follow-on $300 million equity raise for Ironshore Inc. (“Ironshore” or the “Company”) to support the Company’s continued expansion of its specialty insurance business. The lead investor in this financing was GTCR Golder Rauner, LLC, a leading private equity firm, that purchased $200 million of the newly issued equity. The remaining $100 million of capital was secured primarily from current Ironshore investors, including The Beekman Group. “This equity raise comes at a time when capital is scarce, which clearly demonstrates the market confidence in Ironshore and our prospects for future growth,” said Kevin Kelley, Ironshore’s Chief Executive Officer. “We continue to see significant dislocations in selected segments of the market that will allow us to venture forth with the necessary capital to further leverage industry opportunities.” John G. Troiano, Chief Executive Officer of The Beekman Group commented “We are excited to continue to support Ironshore’s growth plan through this additional equity financing. Ironshore is a best-in-class insurance underwriting platform with an industry-leading management team.” About Ironshore Ironshore provides broker-sourced specialty commercial property and casualty coverage for risks located throughout the world. Through its platform in Bermuda, Ironshore writes property catastrophe and property all-risk coverage for small to midsized commercial risks. Ironshore’s US operations consist of IronPro (Professional Liability), IronHealth (Healthcare Liability), and IronBuilt (Specialty Construction Insurance). Specialty coverages are underwritten at Lloyd’s through Ironshore’s Pembroke Syndicate 4000. The Ironshore group of insurance companies is rated A- (Excellent) by A.M. Best with a Financial Size Category of Class XI. Syndicate 4000 operates within Lloyd's where the market rating is A (Excellent) by A.M. Best and A+ (Strong) from both Standard & Poor’s and Fitch. For more information, please visit About The Beekman Group The Beekman Group (“TBG”) is a leading private equity firm dedicated to bringing financial and operational resources to lower middle-market companies. TBG's team consists of experienced private equity professionals, as well as a select group of Industry Operating Partners who are leading executives in TBG's targeted industry segments. This Industry Partner approach to investing is the cornerstone of TBG's investment strategy -- creating value through accelerating growth in partnership with lower middle-market management teams. For more information please contact [email protected].