AssuredPartners Inc. announced Thursday that it has acquired Encompass Risk Solutions Inc., an independent agency based in Warminster, Pennsylvania, with two additional offices in York, Pennsylvania, and Marietta, Georgia. Terms of the transaction were not disclosed.
Founded in 2011, Encompass Risk Solutions offers specialized trucking insurance programs. The Encompass team of 15 will continue to provide risk management and insurance services for the transportation industry under the leadership of President Jeff Maconaghy. The agency reports approximately $4.5 million in revenues.
Based in Lake Mary, Florida, AssuredPartners acquires and invests in insurance brokerage businesses (property/casualty, employee benefits, surety and MGU’s) across the U.S. and in London. From its founding in 2011, AssuredPartners has grown to $550 million in annualized revenue, with over 125 offices in 30 states and a London office.