Warburg Pincus Acquires K2 Insurance Services from Lee Equity Partners
December 1, 2022
Warburg Pincus has agreed to acquire K2 Insurance Services from Lee Equity Partners to support the company's next phase of growth, including M&A and de-novo incubation. K2, a San Diego-based specialty insurance program manager that services over $1 billion in premiums through a portfolio of MGAs, will be backed by Warburg Pincus to expand its underwriting and distribution capabilities.
- Buyers
- Warburg Pincus
- Targets
- K2 Insurance Services
- Sellers
- Lee Equity Partners
- Industry
- Insurance
- Location
- California, United States
- Transaction Type
- Buyout
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Lee Equity Acquires Majority Stake in K2 Insurance Services
May 14, 2019
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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.
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