SkyKnight Invests in Heffernan Insurance Brokers

SkyKnight Capital announced that it has made an investment into Heffernan Insurance Brokers, an independent retail insurance brokerage platform headquartered in Walnut Creek, California.

Founded in 1988, Heffernan provides business insurance, personal insurance, employee benefits and financial services and has 450 team members in 10 branch offices across the U.S. and London. Heffernan has grown revenue to over $100 million, primarily through organic growth along with selected acquisitions. Heffernan prides itself on a culture dedicated to serving its clients’ needs across niche practices including nonprofit, construction, healthcare, transportation and hospitality.

“We are excited to bring SkyKnight on as a value-added partner to help execute on our next phase of growth. SkyKnight’s minority investment allows us to gain valuable strategic and financial support, while retaining our independence and our culture of employee ownership.” – Mike Heffernan, President and CEO of Heffernan.

The Heffernan investment is the fourth investment from SkyKnight Capital Fund II, L.P.

Founded in 2015, SkyKnight focuses on partnering with high quality businesses in acyclical growth sectors alongside exceptional management teams. SkyKnight manages patient capital on behalf of institutional family offices and leading foundations and endowments. The firm is based in San Francisco and seeks investments in Healthcare and Business Services. SkyKnight makes equity commitments ranging from $20 million to over $200 million.