
Inszone Insurance Services, a California company with an office in Roseville, has announced that Lightyear Capital entered into a definitive agreement to make an investment in the company to help Inszone’s plans for growth. Details of the agreement were not released.
Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, financial, and business services.
Lightyear will join Inszone’s current investor, BHMS Investments, which will roll over a portion of its existing equity as well as invest additional capital alongside Lightyear. The investments by Lightyear and BHMS will be used to accelerate Inszone’s next phase of growth.
Inszone is a full-service insurance brokerage firm that provides a broad array of property and casualty insurance and employee benefits solutions. Since its founding in 2002, Inszone has experienced growth through a combination of organic initiatives and acquisitions, driven by the company’s data-enabled platform, company officials state.
Inszone has completed and integrated 98 acquisitions since September 2020. The company services more than 129,000 clients across all 50 states and employs a team of 512 dedicated employees across 63 locations.
“Today’s announcement by Lightyear and BHMS is evidence of Inszone’s strength and success to date,” says Chris Walters, CEO of Inszone. “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.”
Martin Sullivan, operating partner at Lightyear and former CEO of AIG, will join the Inszone board of managers upon closing of the transaction.
The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions and regulatory approvals. Sidley Austin LLP served as legal counsel to BHMS and Inszone, and Davis Polk & Wardwell LLP and Locke Lord LLP served as legal counsel to Lightyear.