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Michael Scherer

Partner, Advisory, Financial Due Diligence, KPMG US

New York
Image of Michael Scherer

Michael Scherer

Partner, Advisory, Financial Due Diligence

Mike has over 14 years of experience serving financial services companies with KPMG, including 10 years providing transaction services advice and 4 years providing audit services, with a focus on insurance service organizations and banking institutions.

Professional and industry experience

  • Managed a number of transactions in the insurance and broader financial services sectors on both the buy- and sell-side, including a number of national and international transactions on behalf of private equity and strategic clients.
  • Mike has worked on projects in multiple stages in the transaction cycle, including vendor assistance, vendor due diligence, financial modeling, financial due diligence and SPA assistance.
  • Examples of his recent experience include:
    • Financial due diligence of a US based insurance broker, on behalf of a private equity investor.
    • Financial due diligence of a US based property and casual reciprocal insurance company, on behalf of a private equity investor.
    • Sell-side due diligence for a major US insurance broker on its successful divestiture of a US subsidiary.
    • Financial due diligence of an international loss-adjusting organization, on behalf of a private equity investor.
    • Vendor due diligence for a US-based insurance services company seeking to raise capital from private equity and other investors.
    • Sell-side assistance for a large international bank with the proposed sale of part of its asset management business.
  • Specific experience includes leading both buy- and sell-side due diligence associated with strategic corporate and private equity investments in the insurance industry. Work included analysis of earnings adjustments, working capital, analysis of cost base, analysis of future earnings projections, assistance with SPA, and other services.

Representative clients

  • Insurance services: Acrisure, Aon, Truist Insurance Holdings, The Hilb Group, High Street Insurance, EPIC, Liberty Mutual, Prudential Financial, Risk Strategies Company, AmWINS, NFP Corp, Assurant, Sunstar Insurance Group, Spectrum Automotive
  • Private equity: Cornell Capital, Oak Hill Capital Partners, Leonard Green & Partners, Genstar Capital, Kohlberg & Company, Aquiline

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