Risk Strategies has grown to become one of the top 30 brokers in the country
Kelso & Co. has announced that it has acquired a majority stake in Risk Strategies Company, a national insurance & benefits brokers and risk management firm headquartered in Boston. Kelso & Co. will acquire the majority stake from Kohlberg & Co.
“We are pleased that our partnership with Mike and the team at Risk Strategies has helped the Company accelerate its growth trajectory and execution of its long-term strategic plan,” commented Chris Anderson, Partner at Kohlberg & Company. “We are confident that the Company will experience continued success through its partnership with Kelso, and we wish them much future success.”
This new partnership for the Boston-based brokerage firm will allow it to continue its aggressive growth plans as well to bolster its national business operations. Kelso is expected to invest a substantial amount of equity in order to develop Risk Strategies’ client and growth initiatives.
According to the terms of agreement, Risk Strategies’ leadership team, including Chief Executive Officer and Founder Michael Christian, will continue on with the company. RSC management and employees also have retained a significant stake in the company. In addition, the company will see the addition of insurance brokerage industry veteran, Vic Krauze, who will join Risk Strategies’ Board of Directors. He will be investing alongside Kelso and management. Additional terms of the agreement were not disclosed.
With a change of leadership and new investment, Risk Strategies is aiming to enhance its client resources, add additional members to its team of professionals in several areas and to continue its strategic M&A activities all with the goal of greater growth.
“This investment is a real vote of confidence in our work, our people and plans for on-going success,” said Michael Christian, CEO RSC. “Kelso’s stability and collaborative style is a perfect fit for our long term vision to build a national specialty brokerage firm with a focused, smarter approach to the business,” he added.
“We are delighted to partner with Mike and his team. Risk Strategies has established itself as a premier insurance brokerage platform, and we look forward to supporting the company in its next phase of growth,” said Chris Collins, Managing Director of Kelso.
Kelso & CO. is one of the oldest and most established firms in the private equity industry. It is also a leading investor in the insurance sector. Founded in 1997, Risk Strategies has grown over the last 18 years to become one of the largest insurance brokerage firms in the U.S. The privately-held Risk Strategies focuses on middle and upper-middle market commercial and high-net-worth clients with its vertical industry expertise including healthcare, higher education, manufacturing, professional liability, construction, entertainment, fine arts, private equity, private client and real estate.