King Risk Partners secures private-equity recapitalization

Private-equity investment firm Lightyear Capital LLC said Wednesday it would invest in brokerage King Risk Partners, alongside King’s existing investor BHMS Investments LP.

King Risk Partners, which is the trading name for King Insurance Partners, is the 79th-largest broker of U.S. business with about $50 million in annual revenue, according to Business Insurance’s most recent ranking.

The Gainesville, Florida-based company’s business comprises about 56% commercial retail brokerage and 42% personal lines.

Lightyear is also an investor in Inszone Insurance Services Inc., the 50th-largest brokerage of U.S. business. Its previous insurance brokerage investments included London-based Ed Broking.

King has completed more than 60 acquisitions and the investment will support its continued expansion, a Lightyear statement said.