Oak Hill acquires controlling stake in EPIC Insurance Brokers

Private equity firm Oak Hill Capital Partners has acquired a "controlling equity position" in EPIC, a US retail property/casualty insurance brokerage and employee benefits consulting firm, from The Carlyle Group.

According to the company, Oak Hill's investment will enable EPIC to continue its organic growth strategy and will support strategic acquisitions of additional complementary insurance distribution platforms across the US.

Carlyle had acquired a controlling stake in EPIC in December 2013 with equity provided by Carlyle Global Financial Services Partners and Carlyle Global Financial Services Partners II.

"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," said John Hahn, co-founder and CEO of EPIC.

"We are thankful for the robust support, guidance, and access to resources we have received from The Carlyle Group over the past three and a half years, and look forward to building further on the strengths of our organisation across the country with the strategic and financial backing of Oak Hill Capital Partners."

Scott Kauffman, partner at Oak Hill, commented: "We are excited to partner with John Hahn, Pete Garvey, their executive team, and the entire EPIC organization, all proven industry leaders, to continue supporting EPIC's strong growth, innovation, and success in the insurance brokerage industry."

John Redett, managing director and co-head of Carlyle's Global Financial Services, added: "We wish John Hahn and his team well as they continue to execute upon their strategic vision and buildout of EPIC. We believe in their business model and ability to capitalise upon the vast opportunity ahead of them, and are thankful to have played a part in their success over the past several years."

The investment is subject to customary regulatory approvals and is expected to close in the 3rd quarter of 2017.

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