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Equity Capital Raised and Acquisition of New Agency

Jul 1, 2015
Sunstar announces that the company successfully closed on raising a new round of equity capital in the amount of $26,000,000. Leeds Novamark Capital, a prominent private equity firm, contributed $20,000,000 of this total amount and has indicated their ability to contribute an additional $20,000,000 in future capital investment.

Simultaneously, with this equity raise, Sunstar acquired the W.E.Walker-Lakenan agency of Cape Girardeau, Missouri. This is a 100 year old agency that has a dominate market share in its trade area and an outstanding reputation for its professionalism and business integrity. This firm offers personal lines, commercial lines and employee benefits insurance to a diverse client base in the boot heel region of Missouri.