Private equity firm Thomas H. Lee Partners has teamed up with Bret Quigley and Adam Meyerowitz to launch Prime Risk Partners. THL plans to invest up to $200 million. Based in Atlanta, Prime Risk Partners seeks to become a national insurance distribution firm.
Industry veterans Bret Quigley and Adam Meyerowitz and Thomas H. Lee Partners, L.P. (“THL”), a leading private equity firm, today announced that they have partnered to form Prime Risk Partners. The company, headquartered in Atlanta, GA, is focused on partnering with insurance agencies led by individuals who aspire to become part of building a leading national insurance distribution firm. THL plans to invest up to $200 million of equity capital to support the initiative.
Bret Quigley was most recently Vice Chairman of Beecher Carlson, a leading national insurance brokerage firm acquired by Brown & Brown in July 2013. At Beecher Carlson, Quigley had a diverse set of duties including responsibility for all acquisitions as well as all agency operations. Prior to Beecher Carlson, he was the CFO of Hobbs Group. Quigley will serve as Chairman and CEO of Prime Risk Partners. Adam Meyerowitz will serve as Executive Vice President and is a co-founder of Prime Risk Partners. Most recently, he spent nine years at Beecher Carlson as its Senior Vice President and General Counsel.
“There are and will continue to be compelling opportunities to consolidate assets and people within insurance distribution into an intelligent national model,” Mr. Quigley said. “We aim to be the home of choice for those insurance professionals seeking to grow as part of something larger than themselves while helping to create the next great national insurance agency platform. THL’s track record of building growth companies, personal integrity, and collaboration makes them the ideal partner for this effort, and we are excited to be working with them.”
“We have studied the insurance brokerage sector for over ten years, and believe this is an attractive space in which to invest capital,” said Soren Oberg, THL Managing Director. “We have spent considerable time with Bret and Adam evaluating this opportunity and their capabilities and are confident that we have found the right team to drive this vision and execute against it.”
“Bret and Adam have proven track records of success, have a strong brokerage network, are results driven operationally and know how to acquire and structure deals,” said Ganesh Rao, THL Managing Director. “Together we are committed to building out a superior national insurance distribution operation.”
About Prime Risk Partners
Prime Risk Partners acquires and grows property and casualty and employee benefits insurance agencies across the country. Bret Quigley can be reached at (770) 856-9332. Adam Meyerowitz can be reached at (770) 855-8435. For more information, please visit www.primeriskpartners.com.
Thomas H. Lee Partners, L.P. (“THL”) is one of the world’s oldest and most experienced private equity firms. The firm invests in growth-oriented global businesses, headquartered principally in North America, across three broad sectors: Consumer & Healthcare, Media & Information Services, and Business & Financial Services. Since its founding in 1974, THL has raised approximately $20 billion of equity capital and invested in more than 100 businesses with an aggregate purchase price of more than $150 billion. THL strives to build great companies of lasting value and generate superior investment returns. For more information, please visit www.thl.com.