Kansas City-based Spring Insurance Solutions LLC announced it is receiving up to $25 million in financing from a Florida equity investment firm.
The capital is coming from Comvest Partners, which has $2.1 billion in assets under management and is based in West Palm Beach, Fla.
Spring Insurance said the capital will help fund future expansion and retire debt.
Spring Insurance Solutions, which has 114 employees, is a subsidiary of Spring Venture Group, which is an insurance broker mainly for Medicare supplemental policies. It has about 27,000 policies in force. The privately owned insurance broker, at 2301 McGee St., is largely backed by Five Elms Capital, based in Prairie Village.
| The Star