Inszone to receive strategic investment from Lightyear Capital

Transaction is expected to close in Q4 2023

By Kenneth Araullo

Nov 28, 2023 Share

Inszone Insurance Services has announced a definitive agreement for a strategic investment by Lightyear Capital LLC, a New York-based private equity firm.

In this deal, Lightyear joins forces with Inszone’s existing investor, BHMS Investments, LP. BHMS will not only retain a substantial portion of its current equity in Inszone but will also invest additional capital alongside Lightyear. The influx of capital from both Lightyear and BHMS is intended to fuel Inszone’s next growth phase.

The transaction, which is expected to be completed in the fourth quarter of 2023, is subject to customary closing conditions and regulatory approvals. Martin Sullivan, operating partner at Lightyear and former CEO of AIG, is set to join Inszone’s board of managers following the transaction's completion. Legal counsel for the transaction was provided by Sidley Austin LLP for BHMS and Inszone, while Davis Polk & Wardwell LLP and Locke Lord LLP represented Lightyear.

“Today's announcement by Lightyear and BHMS is evidence of Inszone’s strength and success to date. Lightyear brings deep domain expertise and robust operating resources that will help accelerate growth. BHMS has been an excellent partner since 2020 and I am excited they will continue to support us in the next chapter of our development,” Inszone CEO Chris Walters said.

“We are excited to welcome Inszone to our portfolio. Chris and the Inszone management team have done an excellent job of building a differentiated and highly acquisitive insurance brokerage platform. We look forward to partnering with them and the BHMS team to continue to scale the business,” Lightyear managing partner Mark Vasallo said.

In other recent developments, Inszone has also announced the acquisition of New Mexico-based Letherer Insurance Consultants.

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