Keystone Agency Investors (KAI), a private equity backed investment firm that is a majority owner of independent insurance agencies, entered into equity partnerships with Arachas Group LLC in Bartlett, Illinois, and Mason McBride Inc. in Troy, Michigan.
Arachas Group is an independent insurance and risk management company offering business, employee benefits and personal insurance solutions. It was formed in 2017 through the merger of M.L. Sullivan Insurance Agency and Bartlett Insurance Group, and an equity acquisition of Critchell Miller. The combined heritage goes back to the times of the Great Chicago Fire. Today, the company provides insurance solutions across 38 states in North America and serves clients globally.
Mason McBride is an independent insurance and risk management company offering personal, commercial and employee benefits. It serves all of Michigan, the Great Lakes Region, and beyond. Mason McBride professionals are licensed to provide insurance solutions in 27 states nationwide across all major industries.
Financial terms of the private transactions were not disclosed.
Arachas Group is KAI’s tenth and Mason McBride Inc. is KAI’s eleventh strategic partnership since launching in July 2020.
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