AssuredPartners, a portfolio company of GTCR, has acquired the assets of Turner & Hamrick. No financial terms were disclosed. Based in Troy, Alabama, Turner & Hamrick specializes in providing insurance for the trucking sector.
LAKE MARY, Fla. – Oct. 23, 2014 — AssuredPartners Inc., through a subsidiary, has purchased the assets of Turner & Hamrick, LLC, headquartered in Troy, Alabama. The agency specializes in insurance for the trucking industry, in addition to coverage for businesses, individuals, and professional liability. Turner & Hamrick reports revenues of approximately $3.7 million.
As part of the acquisition, 23 Turner & Hamrick employees will join AssuredPartners. Operations will continue in the Troy office, and in existing satellite offices in Birmingham, Montgomery, and Daphne, Alabama, under the local leadership of William F. Hamrick, Managing Member of Turner & Hamrick.
“For more than 20 years, Turner & Hamrick has developed innovative risk management programs for our clients,” said Hamrick. “We are excited to provide our clients with new coverage options as a part of the 13th largest insurance broker* in the U.S.”
“The Turner & Hamrick acquisition strengthens AssuredPartners presence in the Alabama market,” said Tom Riley, President and COO of AssuredPartners, Inc. “We welcome Turner & Hamrick staff and clients to the AssuredPartners family.”
For more information about Turner & Hamrick, please visit: http://www.turnerhamrick.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 $390 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 27 states and a London office. Since 2011, AssuredPartners has acquired 70 insurance firms. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or [email protected], or visit http://www.assuredptr.com.
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