Prime Risk Partners Inc, which is backed by Thomas H. Lee Partners, has acquired insurance agency Cook Maran & Associates. No financial terms were disclosed.
ATLANTA–(BUSINESS WIRE)–Prime Risk Partners Inc. (the “Company”) today announced the acquisition of Cook Maran & Associates, Inc. (“Cook Maran”), one of the largest independent insurance agencies in New York and New Jersey. Cook Maran will continue to operate under the name Cook Maran & Associates, Inc. and will retain all five offices in New York and New Jersey, with plans to expand.
The Cook Maran leadership team and employees will continue in their current roles. Financial terms of the transaction were not disclosed.
As Prime Risk Partners’ first strategic acquisition, Cook Maran provides the Company with a strong regional insurance brokerage platform that the Company plans to grow both organically and through acquisitions of property and casualty and employee benefits firms.
“We are extremely excited to partner with Len Scioscia and his team to build out a robust platform in the tri-state market,” said Bret Quigley, Chairman and CEO of Prime Risk Partners. “Cook Maran has a proven track record of outstanding growth, and we look forward to accelerating its growth and geographic expansion. We welcome the Cook Maran staff and clients to the Prime Risk Partners team.”
“We are thrilled about our new partnership with Prime Risk Partners, which will allow us to take our company to the next level,” said Len Scioscia, Chairman and CEO of Cook Maran. “They allowed us to achieve some liquidity while providing our company with the financial and strategic resources to continue our historic growth trajectory via acquisitions and the hiring of talented employees. In addition, the structure of Prime Risk Partners will allow the current Cook Maran shareholders to continue to participate in the growth and financial success of the new company.”
About Prime Risk Partners
Prime Risk Partners, headquartered in Atlanta, Georgia, is building a superior national insurance distribution platform through selective acquisitions, strategic new hires, and thoughtful operations. A portfolio company of Thomas H. Lee Partners, it is quickly becoming the partner of choice for industry professionals looking to grow exponentially while becoming a critical piece of a growing national organization. For more information, please visit www.primeriskpartners.com.
About Cook Maran
Cook Maran, which traces its roots to 1946, has over 160 employees in 5 offices in New York and New Jersey. Its focus on being a trusted advisor to its business and individual clients has allowed it to enjoy outstanding growth, and it is now one of the leading independent insurance agencies in the New York metro area. For more information, please visit www.cookmaran.com.