News

June 5, 2024

Virtus Receives Strategic Investment from LNC Partners

Overland Park, KS – LNC Partners (“LNC”), a middle market private equity firm, is pleased to announce that it recently completed a strategic investment in Virtus LLC (“Virtus” or the “Company”) to support its continued organic growth and differentiated “acquire-and-integrate” strategy.

Founded in 2013 and headquartered in Overland Park, KS, Virtus is a Top 100 insurance brokerage and risk management consulting platform that provides property and casualty insurance, as well as employee benefits, across a multitude of vertical specializations with an emphasis on serving real estate, private equity, hospitality, and construction clients. Led by CEO Andrew Gray, Virtus has built an attractive and differentiated insurance platform poised to continue its industry-leading organic growth and will seek to partner with top-tier producers and agencies to further expand the Company’s national footprint and vertical specializations.

“We are delighted to announce a strategic partnership with LNC Partners, a team of highly experienced investors in our industry,” said Andrew Gray. “LNC’s extensive expertise and flexible capital perfectly align with Virtus’s fresh approach to make insurance a strategic asset for profitable growth, creating significant value for every client we serve.” Gray adds, “This collaboration solidifies our market position as a leading insurance brokerage platform and will further accelerate Virtus’s organic and M&A growth initiatives.”

“Andrew Gray and the entire Virtus team have demonstrated a strong track record of both organic and inorganic growth, and are well-positioned to continue building a platform sought after by both clients and top industry talent. We are confident that this partnership will fuel Virtus’ continued success and further secure their position as a leader in the insurance industry,” said Matt Kelty, Managing Partner at LNC.

Faegre Drinker Biddle & Reath, LLP served as the Company’s legal advisor. DLA Piper LLP served as legal counsel to LNC.

For additional information about this transaction, please contact:

Matt Kelty
Managing Partner
(703) 651-2147
[email protected]

David Schmoeller
Vice President
(703) 650-9954
[email protected]

About Virtus

Founded in 2013 and headquartered in Overland Park, Kansas, Virtus is a Top 100 insurance brokerage and risk management consulting platform that provides Property & Casualty (P&C) insurance and employee benefits solutions across both commercial and personal lines. Virtus has cultivated a deep understanding of various industry sectors, with a particular focus on serving clients in real estate, private equity, hospitality, and construction.

For more information, please visit https://www.virtusinsurance.com/

About LNC Partners

LNC Partners, established in 2012 with over $700 million in committed capital raised to date, specializes in supporting the growth of lower middle market businesses. Often serving as the first institutional capital partner for management and founder-led firms, LNC differentiates itself by offering customized capital solutions that can combine equity and debt, along with strategic support. LNC’s flexible approach allows it to invest in either control or minority positions, while maintaining a disciplined focus on sectors with stable demand drivers and sustainable profitability.

For more information, please visit https://lnc-partners.com/