AssuredPartners Inc, a portfolio company of GTCR, has acquired Montgomery, Alabama-based Colonial Insurance Agency, an insurance and financial services provider. No financial terms were disclosed.
LAKE MARY, Fla. (PRWEB) April 28, 2015
AssuredPartners Inc., one of the fastest growing independent insurance agencies in the nation, announces today the acquisition of Colonial Insurance Agency, based in Montgomery, Alabama. The acquisition reinforces AssuredPartners’ goal to continue to increase its presence in Alabama and the Southeast region.
Colonial Insurance has been providing insurance and financial services to clients nationwide for more than 50 years. Its offerings include traditional property, casualty and workers’ compensation products, along with numerous niche and specialty insurance programs in the following industries: emergency medical services, real estate, hospitality, medical professional, social services and construction.
The $4.5 million-dollar revenue agency will continue to operate from its current location under the local leadership of President W. Mark Pierce. “Colonial values our long-term relationships, and we are excited about the additional resources and benefits this national partnership will bring to our clients, employees and underwriter partners, said Pierce.
“We remain committed to investing in our people and developing solutions that make our clients’ businesses more successful.” Tom Riley, President and COO of AssuredPartners, said, “We welcome Colonial’s 31 employees and are excited about the industry specialization they bring and our quickly growing footprint in Alabama.”
For more information about Colonial Insurance Agency, visit: http://www.colonial-insurance.com.
ABOUT ASSUREDPARTNERS, INC
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners Inc. is a portfolio company of Chicago-based private equity firm GTCR. AssuredPartners acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety and MGA/wholesalers) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to approximately $475 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States* with over 120 offices in 30 states and two London offices. Since 2011, AssuredPartners has acquired more than 90 insurance agencies. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visit http://www.assuredptr.com.