Insurance brokerage King Risk Partners has received a growth investment from Lightyear Capital, a New York-based private equity firm,
The latest investment stands alongside existing shareholder BHMS Investments, LP (BHMS), which will roll a majority of its existing equity and invest additional capital, and the Company’s management team.
“We are thrilled to be partnering with Lightyear and BHMS as we continue to build our business and achieve our mission of delivering comprehensive insurance solutions,” said Malcolm “Chad” King, Chief Executive Officer of King. “Lightyear offers extensive industry knowledge and hands-on operating capabilities for fueling expansion. Working with BHMS has been very rewarding, and I look forward to collaborating with both teams as we explore new avenues for growth together.”
King is among the fastest-growing insurance brokerages in the US, and aligns with Lightyear’s focus on growing companies that combine financial services and technology, healthcare, and business services.
Founded in 1974, King Risk Partners is a well-established retail insurance brokerage serving over 55,000 clients with comprehensive personal and commercial coverage solutions.
With over 50 offices and a dedicated team of over 440 employees, King is committed to delivering and servicing insurance solutions tailored to clients across the Eastern US.
Driven by a proven strategy of organic growth and successful integration of over 60 acquired retail agencies, King has expanded significantly. This new investment will fuel further expansion into new and existing geographies and end markets.
“We look forward to supporting King as part of the portfolio,” said Mark Vassallo, Managing Partner at Lightyear. “Chad and the King management team have built a dynamic insurance brokerage platform with incredible potential for scale. We look forward to leveraging our deep sector expertise and partnering with BHMS to grow the business.”
Trevor Pieri, Principal at Lightyear said: “Our investment in King is consistent with our long-term thematic focus on insurance distribution, and we are delighted to join King and BHMS as the Company enters this next chapter of growth.”
Anthony Recine, Managing Director at BHMS commented: “King is a unique company in the insurance brokerage sector, which continues to be an attractive industry for us. We are proud to continue our partnership with the King team and are excited to welcome Lightyear as an investment partner.”
