WalkerHughes Insurance (“WalkerHughes” or the “Company”) is pleased to announce that it has received a strategic minority investment from BW Forsyth Partners (“Forsyth Partners” or “Forsyth”).
WalkerHughes will remain locally owned and operated with Benjamin Schoettmer, Founder and Chief Executive Officer, retaining a controlling interest as the largest shareholder. The existing leadership team and all employees will also remain with the Company. Forsyth will join the Board of Directors of WalkerHughes.
The minority capital investment will allow WalkerHughes to continue its core strategy of investing in top talent, developing its proprietary technology, and expanding through mergers and acquisitions among other organic initiatives. WalkerHughes and Forsyth Partners share the common goal of strengthening the Company’s commitment to its customers and communities while expanding its geographic footprint.
Based in St. Louis, Forsyth Partners prioritizes company values built upon the notion of putting people first. Forsyth Partners is an investment firm backed by Barry-Wehmiller, a multi-billion dollar global provider of services and equipment to a diverse set of end markets, and blends Barry-Wehmiller’s unparalleled legacy of value creation and people-centric culture with investing expertise in supporting management teams and propelling companies forward. Forsyth Partners holds a long-term investment strategy with an evergreen capital base.
“When we sought an investment partner to help accelerate our growth, we wanted to ensure that our partner would be equally committed to building a company that has a long-term positive impact on our employees, customers, and communities”, said Benjamin Schoettmer, Chief Executive Officer. “I have gotten to know the Forsyth team well and it is clear we share a similar mission and vision for the future. Forsyth’s long-term investment strategy is a true differentiator, and we are aligned in our interest in building a “forever company”.
Drew Frailey, Partner at Forsyth states, “WalkerHughes brings innovative technology to retail insurance, a great culture, and is poised for long-term growth. This investment represents our belief in WalkerHughes’ differentiated and unique approach to serving the insurance distribution market. We are looking forward to working with Ben and his team to continue building a leading Company with ‘people’ as the heartbeat of the organization”.
“I couldn’t be more excited about the future at WalkerHughes. It has been rewarding to see our commitment to investing in technology and the local communities in which our employees and customers live and work be appreciated by sophisticated investors. Any investment made in WalkerHughes is an investment into our local communities. We are thrilled to be partnering with an organization that supports our commitment,” stated Schoettmer.
Piper Sandler & Co. served as exclusive financial advisor to WalkerHughes on this transaction and Barnes & Thornburg LLP served as legal counsel. Thompson Coburn LLP served as legal counsel to Forsyth.
To learn more about Forsyth Partners, visit bwforsyth.com.
