Boston-Based Risk Strategies Co. Sells Majority Stake to Kohlberg & Co.

Risk Strategies Co., a Boston-Based insurance and benefits brokerage and risk management firm, announced that private equity firm Kohlberg & Co. has acquired the majority of Risk Strategies’ stake.

The brokerage said Mount Kisco, N.Y.-based Kohlberg & Co. has also reserved substantial additional equity capital to support Risk Strategies’ client, organic growth and M&A growth initiative. Terms of the agreement were not disclosed.

Risk Strategies’ executive team – led by Chief Executive Officer and Founder Michael Christian – will remain intact. Risk Strategies said its management and employees have also retained significant ownership.

Also as part of the transaction, insurance veteran Roger Egan has joined Risk Strategies’ leadership team as executive chairman. Egan brings 40 years of insurance brokerage experience in executive management and operations and as a director and investor in various companies and institutions across the insurance industry. Egan previously served as CEO of Integro Ltd. and spent more than 30 years in operating and executive management roles, including president, at Marsh Inc.

Founded in 1997, Risk Strategies offers property/casualty and employee benefits insurance. The firm has 190 employees, including 70 in the Boston area.

With a focus on middle/upper-middle market commercial and high-net-worth clients, Risk Strategies’ industry expertise includes manufacturing, construction, social service, healthcare, higher education, private equity, private client and real estate.