GTCR’s AssuredPartners buys the Bateman Agency

AssuredPartners, a portfolio company of GTCR, has acquired the Bateman Agency. No financial terms were disclosed. Based in Somerville, NJ, the Bateman Agency is an insurance agency that specializes in businesses and individuals.

PRESS RELEASE

Lake Mary, FL (PRWEB) February 25, 2014
AssuredPartners Inc., through its subsidiary Donald F. LaPenna Associates, Inc., has acquired the Bateman Agency, Inc., an independent insurance firm located in Somerville, NJ. The agency specializes in coverage for businesses, including inland and ocean marine insurance, builders’ risk, professional liability and bonds; and insurance for individuals, including homeowners’, renters’, and flood.
“We’ve built trusted relationships with our clients for more than 20 years and we are excited to bring new insurance options and services as part of AssuredPartners and LaPenna,” said Doug Bateman, President of Bateman Agency, Inc. “Our clients will continue to receive the reliable service they know, while benefiting from many resources available through a national agency.”
As part of the acquisition, Bateman Agency, Inc. will continue to operate out of its Somerville location, under the leadership of Donald LaPenna, President of Donald F. LaPenna Associates, Inc. Doug Bateman will join LaPenna as a producer, and continue to work with his clients.
“A key aspect of the AssuredPartners growth strategy is to acquire robust agencies in existing markets. The Bateman Agency is an established leader in the insurance industry, and is known for their expertise and commitment to their clients.” said Tom Riley, President and COO of AssuredPartners, Inc. “We welcome the Bateman Agency team to the AssuredPartners family.”
Donald F. LaPenna Associates, Inc. is located in Clark, NJ. For more information about the Bateman Agency, please visit: http://www.batemanagencyinc.com/.
ABOUT ASSUREDPARTNERS, INC
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners Inc., a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to approximately $325 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with more than 80 offices in 26 states and a London office. Since 2011, AssuredPartners has acquired more than 50 insurance firms. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visit http://www.assuredptr.com.

 

 

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