Risk Strategies Company, which is backed by Kohlberg & Company, has bought DataRisk. No financial terms were disclosed. As a result of the deal, Mike Daigle, DataRisk’s president, CEO and founder, joins Risk Strategies as a managing director. Based in Portsmouth, New Hampshire, DataRisk is a risk management consulting firm.
BOSTON, MA–(Marketwired – Jan 14, 2014) – Risk Strategies Company, a national insurance brokerage and risk management firm headquartered in Boston, today announced it has acquired DataRisk LLC, a Portsmouth, NH-based risk management consulting firm offering customized risk management and specialized insurance brokerage solutions, including executive level personal lines.
Terms of the deal were not disclosed.
As part of the transaction, Mike Daigle, DataRisk’s President, CEO and Founder, joins Risk Strategies as a Managing Director. He and his team will help to further expand Risk Strategies’ business from the Portsmouth location, while gaining access to Risk Strategies’ national network of resources.
“DataRisk has roots that are remarkably similar to Risk Strategies’, and Mike Daigle is a seasoned professional with more than 30 years of experience in the Risk Management, Treasury and Employee Benefit fields. We’re thrilled to have him and his talented colleagues join the Risk Strategies team,” said Michael Christian, Chief Executive Officer, Risk Strategies Company.
“This is an exciting announcement because of the high degree of synergy between DataRisk and Risk Strategies; particularly how both firms have evolved and grown while still maintaining an entrepreneurial spirit with an unrelenting focus on meeting client’s needs,” said Daigle. “We look forward to offering our clients a broader portfolio of services and resources as part of Risk Strategies.”
The addition of DataRisk enhances and adds scale to Risk Strategies’ current risk financing/risk control offerings for middle market, national, and global companies. DataRisk’s team is skilled in providing out-sourced risk management and other services such as risk assessment analysis, insurance program audits, merger & acquisition due diligence, insurance brokerage service benchmarking, claim advocacy services, captive feasibility studies, accrual analysis, collateral negotiations and enterprise risk management solutions.
With client niches similar to Risk Strategies Company, DataRisk has deep expertise in several client specialty areas including real estate, healthcare/human services, private equity, life sciences, medical products, financial services, and executive level personal lines.
Headquartered in Portsmouth, NH, DataRisk is a risk management consulting and specialized insurance brokerage firm. As a risk management consulting firm, DataRisk has evolved into consulting and brokerage operations with a focus on national and global commercial organizations and executive level individuals. The company has grown steadily since its recapitalization in 2002 with a balanced focus on consulting and brokerage services. Over the years, DataRisk has consistently been in the Top 10 Most Productive Agents & Brokers as ranked by Business Insurance.
About Risk Strategies Company
Risk Strategies Company is a privately-held, national firm with offices across the country. As a leading US insurance broker, the company offers sophisticated risk management advice and insurance placement for property & casualty and employee benefits risks. Risk Strategies serves companies of all sizes, non-profits, public entities, and individuals, and has access to all major insurance markets. Ranked in the top 50 brokers in the country, the company is headquartered in Boston, Mass. with offices in Metro Boston, Providence, New York City, Metro New York, Chicago, Irvine, Los Angeles, Sacramento and San Francisco. Risk Strategies is backed by Kohlberg & Company, L.L.C., a New York-based private equity firm specializing in middle market investing. Kohlberg has reserved substantial additional equity capital to support Risk Strategies’ client and growth initiatives.