Divestiture • Business Services

K2 Insurance Acquires Aegis Surety Bonds and Insurance Services

On January 20, 2021, K2 Insurance acquired business services company Aegis Surety Bonds and Insurance Services from Skyward Specialty Insurance

Acquisition Context
  • This is K2 Insurance’s 2nd transaction in the Business Services sector.
  • This is K2 Insurance’s 6th transaction in the United States.
  • This is K2 Insurance’s 2nd transaction in Pennsylvania.

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M&A Deal Summary

Date January 20, 2021
Target Aegis Surety Bonds and Insurance Services
Sector Business Services
Buyer(s) K2 Insurance
Sellers(s) Skyward Specialty Insurance
Deal Type Divestiture

Target Company

Aegis Surety Bonds and Insurance Services

Harrisburg, Pennsylvania, United States
Aegis Surety offers surety bonds to a broad range of contractors in addition to a commercial surety, specializing in underwriting bid, performance, payment, supply, and maintenance bonds. Headquartered in Harrisburg, Pennsylvania, Aegis Surety supports businesses in 45 states and the District of Columbia with offices in Syracuse, New York; Wayne, Pennsylvania; Atlanta, Georgia; Boston, Massachusetts; and Charleston, South Carolina.
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Buyer Overview 1

Buyer

K2 Insurance

San Diego, California, United States

Category Company
Founded 2011
Sector Insurance
DESCRIPTION

K2 Insurance is an insurance services holding company, which owns a diverse group of MGAs that underwrite and distribute specialty property and casualty insurance products. K2 Insurance was founded in 2011 and is based in San Diego, California.


Deal Context for Buyer #
Overall 6 of 7
Sector: Business Services 2 of 2
Type: Divestiture 3 of 3
State: Pennsylvania 2 of 2
Country: United States 6 of 7
Year: 2021 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-20 Skyward Specialty Insurance Group - XPro Business

Houston, Texas, United States

Skyward Specialty Insurance Group's XPro Business provides solutions for the Pest Control industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Loss Run Pro

Missoula, Montana, United States

Loss Run Pro is a simple and easy-to-use subscription software service. LRP simplifies the loss run process by automatically generating and delivering loss run requests. LRP also provides tracking and other useful tools to improve this process. Loss Run Pro was founded in 2020 and is based in Missoula, Montana.

Buy -

Seller Profile 1

SELLER

Skyward Specialty Insurance

Houston, Texas, United States

Category Company
Founded 2006
Sector Insurance
Employees580
Revenue 1.1B USD (2024)
DESCRIPTION

Skyward Specialty is a property and casualty insurance holding company. The company has businesses in specialty lines including management and professional liability, medical stop-loss, surety, E&S property and liability, and large commercial property, programs, as well as multi-line solutions for the energy, trucking, and construction industries. Skyward Specialty was formed in 2006 and is based in Houston, Texas.


Deal Context for Seller #
Overall 3 of 3
Sector: Business Services 2 of 2
Type: Divestiture 3 of 3
State: Pennsylvania 1 of 1
Country: United States 3 of 3
Year: 2021 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-20 Skyward Specialty Insurance Group - XPro Business

Houston, Texas, United States

Skyward Specialty Insurance Group's XPro Business provides solutions for the Pest Control industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-02 Apollo

London, United Kingdom

Apollo is an insurance platform, offering data-driven and creative solutions to a wide variety of risks. The company offers products across Property, Casualty, Marine, Energy & Transportation, Specialty, Reinsurance, as well as Smart Follow and digital & embedded risk programs. Apollo is based in London.

Buy $555M