Sunstar Insurance Group sells majority stake to PE fund BBH

Private equity fund BBH Capital Partners has acquired a majority stake in US insurance broker Sunstar Insurance Group.

The transaction provides Sunstar with additional capital that it hopes will help "maintain its current momentum and accelerate long-term growth".

Memphis, Tennessee-based Sunstar is an independent insurance broker in the US. The company has completed over 25 acquisitions within its core geography.

As part of the deal, Sunstar management and key employees will remain shareholders alongside BBHCP.

"We are thrilled to partner with the BBHCP team. Since our founding in 2012, Sunstar has been committed to creating the preeminent insurance broker in the Southeast and lower Midwest," said Casey Bowlin, Sunstar's chief executive officer. "The investment by BBHCP will enable us to create new opportunities for our employees, customers and carrier partners and will further accelerate our organic and M&A growth strategies."

Patrick Kruczek, managing director at BBH and co-manager of BBHCP, said: "Casey Bowlin and the Sunstar team have built an impressive insurance brokerage franchise. The BBHCP team looks forward to supporting Sunstar in its future growth initiatives."

Michael Boylan, managing director at BBH and co-manager of BBHCP, added: "With BBHCP as a flexible capital partner, we believe that Sunstar's best days are ahead, and we are excited to be a part of this next chapter of growth."