Fairlawn-based Risk International has sold a majority stake in the firm to Boston-based BV Investment Partners, a middle-market private equity firm.
"We have a great organic growth strategy and look forward to investing in the next chapter of Risk International in partnership with the team at BV," Risk International CEO Todd Miller said in a statement.
BV will own a majority interest in Risk International, a provider of outsourced risk management and employee benefits advisory and information services for Fortune 500 and upper middle-market companies. The company's executive team will retain a significant ownership interest.
"We set out to find an investor who would be a true financial partner and has a track record investing in services businesses like our own,” Risk International Chairman Dave O'Brien said. “BV has that in spades, and most importantly, understands and respects the culture of great service that we've built here throughout our history."
BV Managing Partner Vik Raina, Principal Justin Garrison and Senior Associate Will Weimar will join O'Brien and Miller on the company's board. Risk International is BV's third investment in its ninth fund.