Lee Equity Acquires Majority Stake in K2 Insurance Services
May 14, 2019
Lee Equity Partners has signed a definitive agreement to acquire a majority ownership interest in K2 Insurance Services, a San Diego-based specialty insurance services holding company that owns a group of managing general agents (MGAs). K2's management, led by CEO Bob Kimmel, will remain in place with a meaningful equity stake; K2's carrier Aegis Security Insurance Company will be spun off and remain with Endeavour Capital and Patrick Kilkenny. The investment is intended to support K2's organic growth and acquisition-driven expansion of its specialty MGA platform.
- Buyers
- Lee Equity Partners
- Targets
- K2 Insurance Services
- Industry
- Financial Services
- Location
- California, United States
- Transaction Type
- Buyout
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