Lightyear Capital has invested in King Risk Partners, a retail insurance brokerage in the US. 

The investment was made alongside existing shareholder BHMS Investments. 

BHMS will roll the majority of its holding and provide additional capital in conjunction with the company’s management team. 

Lightyear managing partner Mark Vassallo said: “We look forward to supporting King as part of the portfolio. 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.” 

Set up in 1974, King Risk Partners has completed more than 60 acquisitions so far.  

The brokerage serves a client base of more than 55,000 with a network of over 50 offices and a workforce of more than 440, offering personal and commercial insurance solutions.  

King CEO Malcolm King stated: “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. Lightyear offers extensive industry knowledge and hands-on operating capabilities for fuelling 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.” 

TAG Financial Institutions Group offered financial advisory services for King Risk Partners.  

BHMS and King received legal counsel from Sidley Austin, while Lightyear Capital’s legal advisors were Davis Polk & Wardwell and Foley & Lardner. 

Last month, King Risk Partners acquired health insurer Ricky Credille Insurance.