AssuredPartners, which is backed by GTCR, has acquired Insurance Systems Inc. and Insurance Systems of West Virginia. Financial terms weren’t announced.
AssuredPartners, Inc., has acquired substantially all of the assets of Insurance Systems, Inc. and Insurance Systems of West Virginia, Inc., based in Ona, West Virginia.
Insurance Systems, Inc. is a full service insurance agency, serving the tri-state area (WV, OH, KY) since 1926, and will establish a new office for AssuredPartners. Tom Riley, President and Chief Operating Officer of AssuredPartners, Inc. commented, “This acquisition illustrates our strategy to acquire the best insurance agency operations in new geographies, adding talented people with a passion for great customer service to our existing agency platforms.” Arch Keller, President of Insurance Systems, remarked, “Combining with AssuredPartners represents the best of all worlds for ISI and its customers. We have ensured our perpetuation, kept our local autonomy, and gained financial and operating resources to continue to live out daily our customer motto – Count us among your friends.” David Robinson, Secretary/Treasurer of Insurance Systems, concurred, adding, “We think our addition to the AssuredPartners platform will help us continue to attract the best people and to have the insurance carrier relationships to take care of our clients.”
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 property and casualty and employee benefits brokerage businesses across the country. After just twelve months of operations, AssuredPartners has approximately $170 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States. For more information, please contact Dean Curtis, CFO, at (407) 708-0031 or firstname.lastname@example.org, or visit www.assuredptr.com.
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 management 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 $9 billion in over 200 companies. For more information, please visit www.gtcr.com.