AssuredPartners Acquires Bateman Agency in N.J.

February 26, 2014

Lake Mary, Fla.-based AssuredPartners Inc., through its subsidiary Donald F. LaPenna Associates Inc. in Clark, N.J., has acquired Bateman Agency Inc. Terms were not disclosed.

Bateman Agency is an independent insurance firm located in Somerville, N.J. The firm specializes in coverage for businesses, including inland and ocean marine insurance, builders’ risk, professional liability and bonds; and insurance for individuals, including homeowners’, renters’, and flood.

As part of the acquisition, Bateman Agency will continue to operate out of its Somerville location, under the leadership of Donald LaPenna, president of Donald F. LaPenna Associates. Doug Bateman, who has been serving as president of Bateman Agency, will join LaPenna as a producer, and continue to work with his clients.

AssuredPartners is a portfolio company of Chicago-based private equity firm GTCR. AssuredPartners acquires and invests in insurance brokerage businesses (property/casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London. From its founding in 2011, AssuredPartners has grown to approximately $325 million in annualized revenue, with more than 80 offices in 26 states and a London office. Since 2011, AssuredPartners has acquired more than 50 insurance firms.

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