AssuredPartners, a portfolio company of GTCR, has bought Lee F. Murphy. The acquisition was done through the company’s subsidiary AssuredPartners of Minnesota. No financial terms were disclosed. Based in St. Paul, Minnesota, Lee F. Murphy is an insurance firm.
Lake Mary, Fla. (PRWEB) November 11, 2013
AssuredPartners Inc., through its subsidiary AssuredPartners of Minnesota, has acquired the Lee F. Murphy, Inc. insurance firm based in St. Paul, Minn. The agency offers a wide range of insurance and consulting services for both businesses and individuals. Lee F. Murphy, Inc. reports revenue of approximately $8 million, and was named a Top Insurance Broker in 2013 by the Minneapolis/St. Paul Business Journal.
Founded in 1977, Lee F. Murphy, Inc. specializes in commercial insurance, including property and casualty, workers’ compensation and cyber liability; risk management; employee benefit programs; and personal insurance, including home, automobile and rental property. The agency emphasizes high quality client service.
“Our company promise is to deliver innovative and comprehensive insurance programs to our clients to help them achieve their goals. We do this by developing personal relationships, explaining coverage in easy to follow terms, and through our knowledge and expertise,” said Bob Murphy, President and CEO of Lee F. Murphy, Inc. “As part of AssuredPartners, we will continue to help clients achieve their goals, while accessing new resources and support services.”
“Lee F. Murphy, Inc. is known as an insurance leader in the St. Paul area. Their industry expertise, carrier relationships and excellent client service make them a great fit for AssuredPartners,” said Tom Riley, President and COO of AssuredPartners, Inc. “We welcome Bob and his Lee. F. Murphy, Inc. team to the growing AssuredPartners family.”
As part of the acquisition, 50 Lee F. Murphy, Inc. employees will join AssuredPartners of Minnesota. Local operations are based in St. Paul, Minn., and will continue under the leadership of Bob Murphy. For more information, please visit: http://www.leefmurphy.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 $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 23 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.