BHMS invests in King Insurance | State

WESTPORT, Connecticut., July 12, 2021 / PRNewswire / – BHMS Investments, LP, through Affiliated Funds (“BHMS”), has made a significant investment in King Insurance (“King” or the “Company”). Founded in 1974, King is a full-service insurance brokerage company that offers a wide range of P&C insurance solutions as well as employee benefits. After making seven acquisitions in the past year, the company has grown throughout Florida. BHMS’s investment will be used primarily to continue growing King’s acquisitions in the Southeastern United States and beyond.

Kevin L. Angelis, Managing Partner of BHMS, said: “Insurance distribution, and in particular retail brokerage, continues to be an attractive industry for us and we believe there is considerable potential for aggregation. We are delighted to partner with King of Chad and I look forward to working alongside him and the company team to continue King’s growth. “

BHMS was the first institutional investor in three similar insurance brokerage aggregation strategies: The Hilb Group (“THG”) from 2011 to 2015, PCF Insurance Services (“PCF”) from 2017 to early 2020 and currently with Inszone Insurance Services, LLC (“Inszone”) since mid-2020. During BHMS ‘four years of investment, THG made seventeen acquisitions in nine states, laying the groundwork for the agency to achieve its current status as the top 20 insurance brokers in the United States. Likewise, over a three-year period, PCF made twenty-one acquisitions in ten states, propelling the agency onto its current status as the top 30 insurance brokers. In its first year of partnership with BHMS, Inszone completed eleven acquisitions in the Western United States, doubling in size to become one of the Top 100 Insurance Brokers.

“BHMS fits perfectly as a partner as we look to enter the next stage of our business growth,” said King of Chad, Chief Executive Officer and significant shareholder of the Company. “We are delighted to partner with them, and their experience and connections within the insurance brokerage industry will significantly accelerate our acquisition momentum. “

Anthony S. Recine, Managing Director of BHMS, said: “King’s track record in acquisitions, his reputation in the brokerage community, and Chad’s expertise and leadership fit perfectly with our company’s mandate. We are delighted to invest alongside Chad and look forward to a Partnership. “

About King:

Founded in 1974 and based in Gainesville, Florida, King is a full-service insurance brokerage firm providing a broad portfolio of P&C insurance and benefits solutions. Additional information can be found at www.king-insurance.com.

About BHMS:

BHMS Investments, LP is a private investment firm focused on the North American mid-market. The company was founded in 2010 and is based in Westport, Connecticut. BHMS invests in a wide variety of control and structured equity opportunities ranging from consolidation strategies to conventional leveraged buyouts. The firm focuses on sectors in which it has extensive experience and relationships, including business and insurance services. BHMS is currently deploying capital from its most recent fund, which it closed in January 2021. Additional information can be found at www.bhmsinvestments.com.

For more information contact:

King of Chad

Kevin L. Angelis

King Insurance

Investments BHMS, SEC

Chief Executive Officer

Management partner

352.415.8237

646.481.6214

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SOURCE Investments BHMS, SEC

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