KAP secures additional $330 million of financing

Insurance brokerage platform Keystone Agency Partners (KAP) has amended and upsized its existing debt facility by securing an additional $330 million of financing. Apogem Capital led the financing which was significantly over-subscribed and jointly arranged by Crescent Capital, both existing lenders to KAP. Since May of 2021, the company has raised nearly $1.0 billion to pursue its objectives of partnering with premier independent insurance agency platforms, delivering successful client solutions and accelerating growth through an integrated services and operations platform.

KAP completed 2023 approaching $300 million in run-rate revenue and has closed 88 transactions since 2020. With over 1,300 employees nationwide, KAP and its Platform Partners operate across 14 states, providing client-centric solutions in risk management, employee benefits and other financial services.

“We are thrilled to broaden our reach and to continue delivering unparalleled value to our clients and partners. The future is promising, and we are strategically positioned to expand our impact in the industry.” – KAP CEO Patrick Kinney.

“This recent round of financing further validates the value of KAP’s unique and differentiated offering and that we are delivering exceptional financial results. We believe we are well positioned to achieve our ambitious organic and inorganic growth objectives by continuing to invest and elevate the level of services and integration we deliver to our Partners.” – Tony Rossi, Chief Financial Officer of Keystone Agency Partners.

“This significant facility expansion not only reflects our belief in KAP’s strategic vision but also fortifies their capacity to drive impactful growth in the insurance industry. We look forward to continuing our collaborative journey.” – Bill Kindorf, Managing Director at Apogem.