GTCR-owned AssuredPartners closes acquisition of Stoutamire-Pavlik & Associates

AssuredPartners, a portfolio company of GTCR, has completed its buy of Monticello, Florida-based Stoutamire-Pavlik & Associates. No financial terms were disclosed.

PRESS RELEASE

LAKE MARY, Fla. (PRWEB) November 22, 2013
AssuredPartners, Inc. has completed the acquisition of Stoutamire-Pavlik & Associates, Inc., an independent insurance firm located in Monticello, Fla. The agency offers a range of property and casualty insurance options for forestry industry clients, including workers’ compensation, general liability and commercial auto.
“With more than 30 years of experience insuring loggers and forest industry specific companies, we are excited to take this next step for our business and join with AssuredPartners,” said Ric Stoutamire, President of Stoutamire-Pavlik & Associates. “Our goal is to always protect our clients, whether they work in logging, with raw lumber or with the finished product. Partnering with AssuredPartners gives our staff access to more insurance services and resources to benefit our clients and their businesses.”
The Stoutamire-Pavlik & Associates specialization in property and casualty insurance complements the AssuredPartners portfolio of offerings.
“Our acquisition strategy includes identifying and seeking out agencies with a specific niche focus. In this case, the Stoutamire-Pavlik & Associates team brings a thorough understanding of the forestry industry to AssuredPartners,” said Jim Henderson, Chairman and CEO of AssuredPartners, Inc. “We welcome the Stoutamire-Pavlik & Associates agents and staff to the AssuredPartners family of agencies.”
As part of the acquisition, 10 Stoutamire-Pavlik & Associates employees will join AssuredPartners. Operations will continue under the local leadership of Ric Stoutamire and Ryan Pavlik. For more information, please visit: Stoutamire-Pavlik and Associates.
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 $280 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with more than 80 offices in 24 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.