Jamieson is pleased to announce that it has advised the management team of Keystone Agency Partners (Keystone) on the sale of the business to Warburg Pincus from majority owner Bain Capital, who will retain minority ownership.
Warburg Pincus, a pioneer of private equity global growth investing, will acquire a majority stake in Keystone, a leading insurance broker and agency network. Bain Capital, which launched Keystone in 2020, will retain a minority ownership in Keystone through a new investment from Bain Capital Insurance. With this investment, Keystone will continue to innovate and grow its network of agency partners.
Founded in 1983, Keystone has grown into a leading national retail broker and agency network, comprised of 28 Platform Partners and over 350 independent network partners combining for over $8B in annual premium. Keystone’s model empowers its owned Platform Partners and Network agencies to grow and thrive, providing resources and expertise to succeed in a rapidly evolving insurance landscape. Agencies gain access to growth resources, including risk management solutions and market insights to expand their client base and drive profitable growth. Keystone was recently recognized as the 31st largest broker in the U.S. by Business Insurance, demonstrating the success of its innovative agency model and strategic vision.
John Greenland, Evan Alper, Ian Rosamilia, and David Mathless advised Patrick Kinney (CEO) and his management team on the terms of their reinvestment and the incentive program to be implemented in the new structure.
Jamieson Corporate Finance US, LLC is a member of FINRA/SIPC
