Boost Secures Investment from BHMS

On July 31, 2024, Boost Insurance Agency, Inc. (“Boost”) announced that it has secured a meaningful equity investment from BHMS Investments, LP (“BHMS”)

• BHMS joins Boost’s core strategic stakeholders that include Markel, RenaissanceRe and Canopius US Holdings, along with meaningful participation from management
• Proceeds will be used to support continued MGA program and customer growth, expansion of complementary technology products / services, as well as select acquisitions

Boost has emerged as a category leader in the MGA platform space by providing its customers with highly configurable, tech-enabled solutions that include:

• Underwriting, program management and claims administration resources
• Diversified ‘A’-rated fronting carrier paper and dedicated reinsurance capacity; and
• Turnkey policy administration technology to power end-to-end workflow automation and data analytics

Boost’s infrastructure platform aims to provide customers with a more capital efficient and streamlined solution than in-house approaches

• Platform powered by Boost’s proprietary technology and a team of industry experts
• Complemented by the industry’s only real-time risk and performance analytics tool, Boost Data Insights, and its reinsurance capital deployment vehicle, Boost Re

BHMS is a private investment firm focused on the North American middle market founded in 2010 and based in Westport, Connecticut

• Invests in a variety of control and structured equity opportunities ranging from consolidation strategies to conventional leveraged buyouts
• Focuses on industries in which it has deep experience and relationships including business & insurance services
• Has been an active insurance distribution investor with a track record that includes investing in multiple MGA platforms as well as four top 100 retail brokerage platforms

HCMA acted as exclusive financial advisor to Boost; key roles and responsibilities included:

• Led a broad process including strategic and financial investors
• Created marketing materials and financial packages shared with potential investors
• Managed an organized due diligence process
• Offered insights around and assisted in the negotiation of transaction terms and conditions
• Provided objective advice and acted as a confidant to Boost throughout the process

Transaction further solidifies HCMA as a market leader on M&A and capital markets transactions relating to MGAs and InsurTechs