Middle-market investment firm Lee Equity Partners completed its investment in insurance services provider McLarens Inc.
Under the terms of the deal Altamont Capital sold its stake in McLarens to Lee Equity, according to S&P Global Market Intelligence data.
McLarens' employees will keep a substantial ownership stake in the company, which will remain independent. McLaren targets commercial insurance services and niche industry verticals.
Evercore was the exclusive financial adviser to McLarens. Ropes & Gray, Latham & Watkins and Weil Gotshal & Manges served as legal advisers to Altamont, McLarens and Lee Equity, respectively.