AssuredPartners Buys Dawson

AssuredPartners, which is backed by GTCR, has acquired Dawson. Financial terms were not announced. The deal includes  Dawson Insurance, Dawson of Florida, Dawson Consulting Group, Group Benefits Agency, and Dawson Mid-Atlantic. The transaction, which closed Jan. 20, is the fourth for AssuredPartners.

PRESS RELEASE

AssuredPartners, Inc., a portfolio company of leading Chicago-based private equity firm GTCR, closed its fourth platform acquisition on Friday January 20 with the purchase of Dawson Insurance, Inc., Dawson of Florida, L.L.C., Dawson Consulting Group, LLC, Group Benefits Agency, Inc., and Dawson Mid-Atlantic LLC (together, “Dawson”). Based in Cleveland, Ohio and with additional presences in Florida and Virginia, Dawson is a full service insurance brokerage firm, providing clients with property & casualty, employee benefits, and surety products and services. With the addition of Dawson, AssuredPartners has become the largest middle market insurance brokerage in the state of Ohio.

“We are delighted to have Mike Sherman and the very experienced and talented Dawson team join AssuredPartners as we continue efforts to develop the best-in-class middle market insurance brokerage,” said Jim Henderson, CEO of AssuredPartners. “With unique expertise, a wealth of experience, and strong relationships in the industry, the Dawson leadership will prove highly valuable in helping us provide clients with a full suite of quality insurance solutions.”

“This presents an opportunity to further develop the Dawson platform,” commented D. Michael Sherman, CEO of Dawson. “We look forward to leveraging the partnership with AssuredPartners in our continued mission to build the premier middle market insurance brokerage firm.” Mr. Sherman will serve on the Board of AssuredPartners, Inc. and will lead the Dawson and AssuredPartners initiatives in Northern Ohio, Mid-Atlantic and Florida.

As part of this partnership, AssuredPartners will provide Dawson with strategic and financial support to drive continued growth. Day-to-day operations at Dawson will remain under current names and at current locations. The financial terms of the transaction were not disclosed.

ABOUT ASSUREDPARTNERS, INC

Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners Inc. acquires and invests in property and casualty and employee benefits brokerage businesses across the country. With the addition of Dawson, AssuredPartners has approximately $164 million in annualized revenue, making it the 13th largest, based on Business Insurance 2010 rankings, and one of the fastest-growing insurance brokerage firms in the U.S. For more information, please contact Dean Curtis, CFO, at (407) 708-0027 or dcurtis@assuredptr.com, or visit www.assuredptr.com.

ABOUT DAWSON

Headquartered in Cleveland, Ohio, Dawson is a privately held insurance brokerage firm with a wide variety of clients, including both individuals and institutions. Founded in Ohio in 1931, Dawson has since expanded organically and through acquisitions both within its home state and into Florida and Virginia. To learn more, please visit www.dawsoncompanies.com.

ABOUT GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.