AssuredPartners, a portfolio company of GTCR, has acquired Alliance Marine Risk Managers. No financial terms were disclosed. Based in Westbury, NY and Fort Lauderdale, Fla., Alliance Risk Managers is an insurance agency that provides coverage for yachts.
Lake Mary, FL (PRWEB) December 16, 2013
AssuredPartners Inc., has acquired the Alliance Marine Risk Managers, Inc. insurance agency. Alliance Marine Risk Managers, Inc. is located in Westbury, NY and Fort Lauderdale, Fla., and provides comprehensive insurance coverage for yachts. The agency reports approximately $1,800,000 in annual revenues.
“As we looked for a perpetuation solution, it became clear that joining AssuredPartners was the best move for our agency and our clients,” said Fred Silberman, President of Alliance Marine Risk Managers, Inc. “As part of a national brokerage, our clients will now benefit from increased insurance options and a greater level of resources and support, while working with the agents they know and trust.”
The Alliance Marine Risk Managers deal marks the 19th acquisition for AssuredPartners, Inc. in 2013. AssuredPartners’ acquisition strategy focuses on identifying and acquiring small to middle market retail property and casualty, and employee benefit agencies.
“When we identify potential acquisitions we consider a mix of desired partner attributes, including the agency’s business acumen, reputation, sales culture and product offerings,” said Tom Riley, President and COO of AssuredPartners, Inc. “Alliance Marine Risk Managers, Inc. is a successful and knowledgeable firm, and we welcome their team to the AssuredPartners family.”
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.