Oak Hill Capital Partners to invest in EPIC
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Private equity firm Oak Hill Capital Management L.L.C. has agreed to acquire all of The Carlyle Group L.P.’s stake in EPIC Insurance Brokers & Consultants, giving Oak Hill a controlling equity position in the brokerage.
Terms of the deal were not disclosed.
The deal is subject to customary regulatory approvals, San Francisco-based EPIC said Thursday in a statement, and is expected to close in the third quarter. Total enterprise value of EPIC is $977 million, according to the brokerage.
EPIC was founded in 2007 and has reported annual revenues of nearly $300 million, the company said in the statement.
“Over the past 10 years, we have built EPIC into a unique and successful firm that is focused on providing innovative solutions and significant value to our clients and EPIC team members by creating a culture of accountability and alignment through broad-based employee ownership,” John Hahn, co-founder and CEO of EPIC, said in a statement.
EPIC was ranked 17th in Business Insurance’s most recent ranking of the largest brokers of U.S. business.
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