Middle-market private equity firm BV Investment Partners has purchased a majority stake in Risk International.
The Ohio-based company is a provider of outsourced risk management and employee benefits advisory and information services for Fortune 500 and upper middle-market and large-cap enterprises.
Risk claims to be a full-service provider that helps clients reduce their recurring total cost of risk for commercial insurance and employee benefits, while ‘preserving or improving coverage’.
The Company serves as the outsourced risk management function for its clients, presenting a more efficient and effective solution than an in-house alternative, and has helped clients reduce their recurring total cost of risk by over $1bn.
CEO Todd Miller said, “Risk International is the only scaled independent provider of its services in the industry, and we are in the very early innings of penetrating a massive market opportunity of over $3 billion in the U.S. alone. We have a great organic growth strategy and look forward to investing in the next chapter of Risk International in partnership with the team at BV.”
According to its website, The Ideal Risk International Client is a global, public enterprise with revenue greater than $1bn, a public or private company with revenue exceeding $100m, has a large, complex risk profile, is in the manufacturing, chemical, distribution, or similar industry, is willing to challenge the risk status quo, and recognises that risk management is not an internal strength.
Justin Garrison, a principal at BV, said, “Risk International is a unique and growing business that is disrupting the traditional world of employee benefits and insurance brokering. Unlike traditional brokers, Risk International is directly aligned with its clients and provides fully independent advice and services free from any conflicts of interest with insurance carriers. The company delivers an exceptional service with a proven return on investment to its customers.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
