The financing was led by Apogem Capital and saw significant oversubscription, with joint arrangement by Crescent Capital, both of which are existing lenders to KAP. Since May of 2021, KAP has raised nearly $1.0 billion, furthering its mission to collaborate with premier independent insurance agency platforms, provide effective client solutions, and propel growth through an integrated services and operations platform.

Closing out 2023 with an impressive run-rate revenue of approaching $300 million, KAP has executed a total of 88 transactions since 2020. The company, boasting over 1,300 employees nationwide, operates in 14 states alongside its Platform Partners. KAP’s focus extends to delivering client-centric solutions in risk management, employee benefits, and various other financial services, showcasing its commitment to driving innovation and excellence in the insurance brokerage industry.

KAP CEO Patrick Kinney, said: “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.” – 

“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,” commented 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,” added Bill Kindorf, Managing Director at Apogem.