Reverence Capital to acquire Sunstar Insurance Group

Private equity firm Reverence Capital has agreed to acquire a majority stake in independent retail insurance broker Sunstar Insurance.

Founded in 2012 and based in Memphis, Sunstar provides commercial P&C, personal P&C and employee benefits insurance brokerage services to small and medium sized businesses and individuals. With over $1.2 billion in premiums placed, Sunstar is ranked as the 33rd largest independent insurance agency in the US.

Sunstar will continue to be led by its current management team, including Casey Bowlin, founder and CEO, Greg Lottes, President and COO, Chris Parcell, CFO and Nick Colicchio, Vice President of Carrier Relationships and Strategic Partnerships. Management, along with key personnel, will roll a material portion of their proceeds from this transaction and maintain a meaningful minority stake.

“I am delighted to now be partnered with such a successful and prominent firm as Reverence Capital Partners. With their ongoing support and equity capital backing, I am quite confident that the future growth curve of Sunstar will continue to be upwardly remarkable.” – Casey Bowlin.

“Casey and his team have built a differentiated and rapidly growing platform thanks to exceptional leadership, a unified and team-oriented culture, and a disciplined approach to M&A. We are thrilled to be partnering with such a high caliber management team and look forward to providing the necessary capital and support to execute on Sunstar’s plan of accelerated organic and inorganic growth.” – Reverence Capital Managing Partner Milton Berlinski.