AssuredPartners, a portfolio company of GTCR, has acquired The Insurance Centers and Ironbound Business Insurance Agency. No financial terms were disclosed. The Insurance Centers and Ironbound Business Insurance Agency are based in Clark, NJ and Newark, NJ, respectively. AssuredPartners acquires and invests in insurance brokerage businesses in the U.S. and London.
Lake Mary, Florida (PRWEB) July 17, 2013
Donald F. LaPenna Associates, Inc. D/B/A The Insurance Centers and Ironbound Business Insurance Agency has consolidated its operations with Florida-based AssuredPartners. Founded in 1980, LaPenna specializes in providing personal and commercial property and casualty insurance coverage; life, health and disability insurance products; and a broad array of risk management services to corporations and businesses along with a nich market for Transportation business.
The Insurance Centers was founded in 1980 by Donald F. LaPenna, Sr. to meet the needs of a unique mix of commercial property and casualty clients. In 1990, he sold the agency to his son, Donald F. LaPenna, Jr. at which time he assumed the position of President and Chief Executive Officer.
“This unique partnership will allow us to continue to focus on expanding our client base utilizing the resources and technology of AssuredPartners, as we continue to offer a superior level of professional sales, service and expertise to our clients,” Donald F. LaPenna, Jr., President and Chief Executive Officer said.
“We are very pleased to welcome the LaPenna operations to the AssuredPartners team,” said Tom Riley, President and Chief Operating Officer of AssuredPartners. “For over 30 years this operation has built a quality insurance agency with an outstanding reputation in New Jersey. Known for meeting the unique needs of their clients and being consummate insurance professionals, we’re honored to partner with them as we continue to grow nationally.”
The Insurance Centers and Ironbound Business Insurance Agency currently operate out of Clark, NJ and Newark, NJ. The agency currently services over 6,000 clients and has a workforce of 30 professional and dedicated employees that will remain on staff. For more information, please visit: http://www.insctrs.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.