Oak Hill Capital Partners to Acquire Controlling Position in California-based EPIC

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Private equity firm Oak Hill Capital Partners has agreed to acquire all of The Carlyle Group’s stake in EPIC Insurance Brokers & Consultants, giving Oak Hill a controlling equity position in EPIC.

Oak Hill’s investment will enable EPIC to continue its aggressive organic growth strategy and will support strategic acquisitions of additional complementary insurance distribution platforms across the U.S., according to a statement announcing the deal

Terms of the acquisition were not disclosed. The investment is subject to customary regulatory approvals and is expected to close in the 3rd quarter of 2017.

Bank of America Merrill Lynch acted as lead financial advisor and SunTrust Robinson Humphrey acted as financial advisor to EPIC. Wachtell, Lipton, Rosen & Katz served as EPIC’s legal advisor.

Barclays acted as financial advisor to Oak Hill and Weil, Gotshal & Manges served as Oak Hill’s legal advisor.

EPIC is a national insurance broker with reported annual revenues of nearly $300 million. Total enterprise value of EPIC is now $977 million.

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

Oak Hill is a private equity firm managing funds with more than $10 billion of initial capital. Oak Hill has invested in sectors including retail and distribution, industrials, media and communications; and services.