AssuredPartners of New Jersey, a subsidiary of GTCR-backed AssuredPartners, has acquired AJM Insurance. No financial terms were disclosed. As a result of this deal, 30 AJM Insurance employees will join AssuredPartners of New Jersey. Tony Mahon and Salvatore Abate will continue to lead the firm.
Lake Mary, Fla. (PRWEB) October 03, 2013
AssuredPartners of New Jersey, an AssuredPartners, Inc. platform operation, has acquired Anderson-Jackson-Metts d/b/a AJM Insurance. The agency specializes in commercial insurance coverage, personal insurance coverage and financial planning and health benefits for corporations and individuals. This acquisition marks the first deal for AssuredPartners of New Jersey, a newly formed platform operation of AssuredPartners, Inc.
Founded in 1944, the agency offers insurance policies and planning services to protect what matters most to clients. Supported by their mission statement of providing quality insurance products through proactivity, persistence and professionalism, AJM Insurance delivers stability and security for growing businesses and families. The agency is one of the largest firms in southern New Jersey, reporting revenues of approximately $5.3 million.
“Our insurance programs have been the foundation of our clients’ lives and business for nearly 70 years,” said Tony Mahon, President of AJM Insurance. “The sense of security and stability we offer will only be magnified by the new resources and support we can now access as part of AssuredPartners.”
“We are pleased to welcome AJM Insurance to the AssuredPartners family,” said Tom Riley, President and COO of AssuredPartners. “The AJM Insurance team possesses the professionalism and knowledge that we look for when identifying agencies to partner with as we continue to grow nationally.”
As part of the acquisition, 30 AJM Insurance employees will join AssuredPartners of New Jersey. Operations are based in Mt. Laurel, NJ, and will continue under the leadership of Tony Mahon and Salvatore Abate. For more information, please visit: http://www.ajminsurance.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 $250 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with 81 offices in 13 states and a London office. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visit http://www.assuredptr.com.