Warburg Pincus to buy majority stake in Keystone
- May 25, 2025
- Posted by: Web workers
- Category: Finance
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Keystone Agency Partners LLC announced Wednesday that private-equity firm Warburg Pincus LLC will acquire a majority stake in the company.
Bain Capital LP, which launched the Mechanicsburg, Pennsylvania-based brokerage and agency network in 2020, will retain a minority stake through a new investment from Bain Capital Insurance.
Terms of the deal were not disclosed.
The investment will enable Keystone to accelerate its growth initiatives, CEO Patrick Kinney said in a statement.
Keystone is the 31st-largest brokerage of U.S. business, according to Business Insurance’s latest ranking.
The transaction is expected to close in the third quarter, subject to regulatory approvals.
