BHMS Investments (BHMS) will also roll over a significant amount of its existing equity and reinvest in Inszone. Credit: Precondo CA/Unsplash.

US insurance intermediary Inszone Insurance Services (Inszone) has announced an investment from private equity company Lightyear Capital.

The deal will see Lightyear join BHMS as the co-lead investor in Inszone.

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BHMS will also roll over a significant amount of its existing equity and reinvest in Inszone.

Inszone will use the investments from Lightyear and BHMS to accelerate its next phase of growth.

The quantum of the investment was not disclosed.

Founded in 2002, Inszone is a full-service insurance brokerage company engaged in offering a wide range of employee benefits, and property and casualty insurance solutions.

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The insurance broker has grown both organically and through acquisitions. It has completed 98 acquisitions since September 2020.

With 512 employees spread over 63 sites, the company handles more than 129,000 clients in all 50 US states.

Inszone CEO Chris Walters said: “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.”

Lightyear managing partner Mark Vassallo 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.”

Following the completion of the deal, Martin Sullivan, an operating partner at Lightyear and a former CEO of AIG, will become a member of the Inszone board of managers.

Subject to customary closing conditions and regulatory approvals, the transaction is expected to close in the fourth quarter of 2023.

In September, Inszone acquired California-based Sanfilippo & Sons Insurance Services for an undisclosed sum.