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PE-backed Patriot acquires Paul B. Sullivan Insurance Agency

Patriot Growth Insurance Services LLC, which is backed by GI Partners and Summit Partners, has acquired Paul B. Sullivan Insurance Agency, a national insurance agency.

Patriot Growth Insurance Services LLC, which is backed by GI Partners and Summit Partners, has acquired Paul B. Sullivan Insurance Agency, a national insurance agency. No financial terms were disclosed.

PRESS RELEASE

FORT WASHINGTON, PA, January 25, 2022 – Patriot Growth Insurance Services, LLC (“Patriot”), one of the country’s largest and fastest-growing national insurance agencies, announces the addition of Paul B. Sullivan Insurance Agency. This partnership will be supported by Patriot’s FBinsure (FB) platform, and significantly expand Patriot’s P&C expertise and capabilities throughout Massachusetts and Rhode Island.

Paul B. Sullivan Insurance has served the communities of Southeastern New England since 1956 from locations in Fall River and Wareham. Led by current President Ed Sullivan, the agency provides comprehensive personal and business insurance with exceptional service to nearly 6,000 clients.

“We wanted to ensure our clients could continue to work with the same people they have trusted for years, while gaining access to additional beneficial products and services. This was the right partnership for our clients and employees, and the benefits will be felt for years to come,” stated Ed Sullivan.

This acquisition marks the 11th since 2008 for FBinsure, and the second acquisition for the platform since partnering with Exchange Insurance Agency of Charlestown last year. FBinsure now consists of eleven total locations throughout Bristol and Plymouth Counties, including their primary office in Taunton and additional locations in Attleboro, Middleboro, Dighton, Rehoboth, East Freetown, New Bedford, and Dartmouth.

Russ Martorana, President and CEO of FBinsure, said “We are beyond excited to have the Paul B. Sullivan Insurance Agency join the FBinsure and Patriot family. We have known each other locally for many years and are thrilled that they have chosen us and Patriot to propel their agency forward. This partnership further strengthens our expertise and presence on the south coast of Massachusetts.”

Matt Gardner, Founder and CEO of Patriot, added “We are thrilled to continue to grow the FBinsure platform with the addition of the Paul B. Sullivan partnership. Patriot looks forward to providing resources, support, capital, and supplemental leadership to enhance the products and client services for this fast-growing agency.”

About Patriot Growth Insurance Services
Founded in 2019, Patriot is a growth-focused national insurance services firm that partners with employee benefits and property & casualty agencies across the United States. In its second year of operation, Patriot was ranked in the top-40 largest insurance brokers in the U.S. by Business Insurance. With over 1,350 employees operating in 110 locations across 19 states, Patriot’s collaborative model delivers resources and strategic support to its agencies, whose leaders continue to operate with a high degree of autonomy in their local markets. Patriot creates true alignment with its partner agencies, and its operating philosophy fosters enhanced career opportunities for its dedicated and professional team. Patriot is backed by GI Partners and Summit Partners. For more information, please visit www.patriotgis.com.